PANews reported on April 30 that according to CoinDesk, Robert Mitchnik, head of digital assets at BlackRock, said at the Token2049 conference in Dubai that Bitcoin may "reflexively" evolve into a low-beta asset. Although this logic "does not hold true in fundamentals," it has the potential to be self-fulfilling due to the general acceptance of the market. Under the recent US-China trade tensions, US stocks fell while Bitcoin stabilized, which has strengthened this view. In the past 10 trading days, Bitcoin spot ETFs have had a net inflow of more than US$3 billion, with BlackRock IBIT having the largest inflow. Mitchnik said BTC is turning into the hands of long-term holders. VanEck CEO Jan van Eck also said that if the correlation continues to weaken, investors will be more willing to hold Bitcoin.