AI’s Rising Influence on Crypto: BlackRock Signals Shift to Bitcoin and Ethereum

As artificial intelligence (AI) technology emerges as a key driver of structural change in the virtual asset market, analysis suggests that the growth model centered on indiscriminate token issuance has reached its limits. The market’s focus is gradually shifting toward core infrastructure assets such as Bitcoin, and Ethereum.

BlackRock’s Perspective on AI and Digital Assets

According to cryptocurrency media outlet Bitcoinist, Robbie Mitchnick, Head of Digital Assets at BlackRock, stated at the Digital Asset Summit in New York that artificial intelligence will have a far more powerful long-term impact on the virtual asset market than the launch of new tokens. Mitchnick explained that large institutional investors are fundamentally reassessing how they approach digital assets, and that the market’s focus is moving away from simple token issuance toward the structural catalyst of artificial intelligence.

Mitchnick likewise emphasized the potential structural convergence between digital assets and artificial intelligence. He analyzed that cryptocurrencies, as computer-based money, and AI, driven by data and intelligence, could naturally form an integrated ecosystem. He added that in autonomously operating AI systems, cryptocurrency networks could function as a more suitable means of payment than traditional financial infrastructure.

Crypto Mining Industry Adapts to AI Demand

This shift is already visible in the crypto mining industry. Major publicly listed mining companies such as Hut 8, Core Scientific, and IREN are converting their existing data centers to support artificial intelligence and high-performance computing workloads or expanding related infrastructure businesses. There is a clear movement away from mining-centered revenue models toward more stable business models based on demand for AI computing power.

Institutional Capital Concentrates on Bitcoin and Ethereum

Mitchnick also expressed a critical view of many tokens currently in the market. He pointed out that numerous tokens have been issued without long-term value foundations and noted that institutional capital is increasingly concentrating on Bitcoin (BTC) and Ethereum (ETH). According to his analysis, Bitcoin serves as a store of value, while Ethereum functions as infrastructure for on-chain activity and asset tokenization, forming a complementary structure.

BlackRock’s Recent Crypto Activity

Recent activity from BlackRock supports this shift. In February 2026, BlackRock deposited approximately $270 million worth of Bitcoin and Ethereum into Coinbase – 2,563 BTC (worth around $173 million) and 49,852 ETH (worth $97 million) – likely to offload these coins following ETF outflows. This move coincided with $2.4 billion in crypto options expiring, potentially contributing to market volatility.

in March 2026, BlackRock launched the iShares Staked Ethereum Trust (ETHB) on Nasdaq, its first crypto ETF designed to generate yield through staking. ETHB stakes between 70% and 95% of its ether holdings via Coinbase Prime, offering investors approximately 82% of gross staking rewards, currently around 3.1% annually.

Looking Ahead

The convergence of AI and digital assets, particularly Bitcoin and Ethereum, represents a significant evolution in the crypto landscape. As institutional investors increasingly prioritize assets with fundamental value and long-term potential, and as the crypto mining industry adapts to the demands of AI computing, the focus is expected to remain on these core infrastructure assets. This shift signals a maturing market, moving beyond speculative token issuance towards a more sustainable and integrated ecosystem.