Bitcoin Shows Positive Skewness to Volatility, Says BlackRock’s Cohen

This morning's Empire podcast featured insights from BlackRock's Samara Cohen. Key points include:

• Bitcoin is not acting as a safe haven during market downturns, showing increased correlation with equities.
• BlackRock's bitcoin ETP, IBIT, has not experienced expected outflows, indicating that price action is driven by retail and speculative positions held by institutions.
• Cohen noted Bitcoin maintains positive skewness in volatility despite market conditions.
• BlackRock is focused on the tokenization of capital markets, emphasizing its potential benefits for investors.

Cohen's comments suggest that BlackRock remains committed to its crypto initiatives.