Asset manager BlackRock has added a warning about quantum computing to its iShares Bitcoin Trust (IBIT) filing, citing future risks of ultra-powerful machines cracking the math securing Bitcoin.
BlackRock, in its spot Bitcoin ETF paperwork, mentions quantum computing as a potential threat for the first time, acknowledging that quantum processors could decrypt private keys and compromise wallet security if they become sufficiently powerful.
Worries about quantum computing intensified last December when Google introduced Willow, a chip claimed to outperform current supercomputers significantly. Concerns were also raised by Microsoft's Majorana 1, sparking alarm within the crypto community.
Despite concerns, Bitcoin ETFs have seen record inflows of over $41 billion since their launch in January, indicating that mainstream investors are currently more focused on current market conditions rather than potential future quantum threats.