BlackRock's Mitchnick Says AI—Not New Tokens—Will Shape Crypto's Future
BlackRock's head of digital assets, Robbie Mitchnick, said AI is a bigger long-term driver for crypto than new token issuance. He made the statement at the Digital Asset Summit in New York on 24 March 2026.
BlackRock executive reframes crypto's growth story
Robbie Mitchnick, Head of Digital Assets at BlackRock, said artificial intelligence (AI) is a more significant long-term force for the crypto sector than the creation of new tokens. He made the statement at the Digital Asset Summit in New York on 24 March 2026. BlackRock is the world's largest asset manager.
"AI agents are very unlikely to use, you know, Fedwire and SWIFT. What is crypto? Crypto is computer-native money… AI is computer-native data and intelligence. And so there's a natural symbiosis there.", 24 March 2026. — Robbie Mitchnick, Head of Digital Assets, BlackRock
AI agents and crypto share a natural fit
Mitchnick explained why AI systems align with crypto infrastructure. Fedwire and SWIFT are traditional bank payment networks. AI agents — autonomous software programs that execute tasks independently — cannot easily use those systems. Crypto operates natively in digital environments, which makes it compatible with AI-driven transactions.
Institutions concentrate on Bitcoin and Ethereum
Mitchnick said institutional investors focus on a small number of crypto assets rather than broad portfolios. Bitcoin holds approximately 60% of total crypto market share. Ethereum (ETH) accounts for a low double-digit percentage. BlackRock's Bitcoin exchange-traded fund (ETF), ticker IBIT, holds over $55 billion in assets. Its Ethereum ETF, ETHA, holds over $6.5 billion. Total BlackRock crypto ETF assets exceed $130 billion.
"Institutions are now focusing on a handful of assets rather than broad portfolios — Bitcoin and Ethereum are leading this, and interest in other tokens is minimal.", 24 March 2026. — Robbie Mitchnick, Head of Digital Assets, BlackRock
New token growth ranks below AI in priority
Mitchnick positioned new token issuance as a secondary factor in the sector's development. He described interest in tokens beyond Bitcoin and Ethereum as minimal among institutional allocators. Mitchnick named AI infrastructure, not token proliferation, as the primary driver of future crypto adoption.
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