BlackRock’s Playbook: BTC, ETH & AI – All Other Altcoins Are Just Background Noise

At the Digital Asset Summit in New York, BlackRock’s digital‑assets chief Robert Mitchnick told the room that institutional capital is zeroing‑in on Bitcoin (BTC) and Ethereum (ETH). He brushed off the rest of the token zoo as flash‑in‑the‑pan hype, noting that firms now prefer a tight‑knit handful of assets over a sprawling, meme‑filled portfolio.

Mitchnick went on to say that interest in anything beyond BTC and ETH is “minimal,” consigning most altcoins to the crypto equivalent of a landfill. Rather than chasing the next meme‑coin rabbit hole, institutions are fixing their sights on the AI sector, which he pitched as a far more potent, long‑term engine.

“The fundamental driving force of the future is not new tokens, but artificial intelligence,” Mitchnick asserted. “Digital assets are the currency of computers, and AI is the data and intelligence of computers, so they are in a natural symbiotic relationship.”

This is not investment advice.