According to CoinDesk, Robert Mitchnik, head of digital assets at BlackRock, stated at the Token2049 conference in Dubai that Bitcoin may "reflexively" evolve into a low beta asset. Although this logic "does not hold fundamentally," it has a self-fulfilling potential due to its widespread market acceptance. Recently, the tension in US-China trade has seen US stocks fall while Bitcoin stabilized, reinforcing this view. Over the past 10 trading days, Bitcoin spot ETFs have seen net inflows of over $3 billion, with BlackRock's IBIT seeing the largest inflows. Mitchnik commented that BTC is transitioning into the hands of long-term holders. VanEck CEO Jan van Eck also noted that if correlations continue to weaken, investors will be more willing to hold Bitcoin.