According to Cointelegraph, asset management company BlackRock said in a regulatory filing that emerging technologies such as quantum computing could render the encryption technology of Bitcoin and other blockchain networks ineffective. On May 9, BlackRock updated the registration statement of its iShares Bitcoin ETF (IBIT), noting that quantum computing could pose a risk to the integrity of the Bitcoin network. IBIT is the largest spot Bitcoin ETF with a net asset of approximately $64 billion. Quantum computing aims to enhance computer processing power using the principles of quantum mechanics. Analyst James Seyffart said risk disclosure is standard procedure and all possible risks need to be emphasized. Since its launch in January, the Bitcoin ETF has attracted more than $41 billion in net inflows. On May 8, Bitcoin ETF net inflows reached an all-time high of more than $40 billion. Tether CEO Paolo Ardoino has predicted that quantum computing will enable hackers to crack inactive Bitcoin wallets.

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