Think BlackRock Is Bullish on Bitcoin? Arthur Hayes Says They’re Not, Here’s Why

Institutional inflows into spot Bitcoin ETFs have been one of the biggest storylines since their launch last year. With Bitcoin hitting new highs in 2025 and ETF assets surging, many assume big Wall Street players are finally “long Bitcoin. ” But not so fast, says Arthur Hayes. In an email sent Monday, the BitMEX co-founder argues that much of the institutional activity inside BlackRock’s IBIT, still the largest Bitcoin ETF by assets, has nothing to do with long-term conviction source: https://beincrypto.com/think-blackrock-is-bullish-on-bitcoin-arthur-hayes-says-theyre-not-heres-why/