Crypto

Coldcard Hack Boosts Case for Spot Bitcoin ETFs

Guavy AI Editorial Team Published August 10, 2026

Instruments

BTC

BlackRock's head of digital assets, Robert Mitchnick, weighed in on the recent hack of Coldcard wallets, which saw over $130 million worth of Bitcoin stolen. The incident has undermined confidence in self-custody among investors.

Mitchnick appeared on 'Bloomberg ETF IQ' and suggested that the hack strengthens the case for spot Bitcoin ETFs as a trusted vehicle for investing in Bitcoin. He didn't elaborate further on this point.

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