BlackRock’s digital-assets chief says Bitcoin’s macroeconomic case is becoming increasingly compelling after the firm’s spot Bitcoin ETF, IBIT, recorded unusually strong trading activity during a week of gains.

Robbie Mitchnick, BlackRock’s head of digital assets, pointed to growing concerns over U.S. debt and fiscal deficits as a factor that could further strengthen Bitcoin’s appeal to investors.

IBIT recorded its strongest trading volume ever during a winning week since its launch in January 2024. TradingView data showed the ETF keeping pace with Bitcoin’s roughly 23% weekly rally.

Mitchnick told CNBC that elevated government debt and deficits remain important risks for financial markets. He said renewed concern over fiscal conditions could increase investor interest in Bitcoin and gold, which can serve as alternatives to traditional financial assets.

He also noted that Bitcoin and gold have recently outperformed equities, while bond markets have experienced volatility. Bitcoin’s ability to hold up in that environment, Mitchnick argued, reinforces its developing role as a store of value.

His comments come as more investors focus on the long-term sustainability of U.S. government finances. Persistent fiscal pressures and potential financial repression could encourage capital to move toward scarce assets.

BlackRock has a major stake in this trend through IBIT, the world’s largest spot Bitcoin ETF. The fund has accumulated roughly $63 billion in investor capital since its debut.

Around 439.5 million IBIT shares traded last week as Bitcoin surged and investors continued to add funds. The ETF’s record trading volume remains above 700 million shares, reached during the week ending Feb. 6 when Bitcoin dropped close to $60,000.

The combination of heavy trading and strong inflows during a rising market points to substantial investor conviction, particularly from institutions, rather than activity driven solely by short-term speculation.

IBIT gained 22.59% to $43.68 over the week, its biggest weekly increase since February 2024. The ETF attracted approximately $1.33 billion in net inflows during the period.

SoSoValue data shows IBIT has received around $2.64 billion in net inflows this month, its strongest monthly inflow performance since October 2025.