Bitcoin Holders Get 96% Cheaper Entry Into BlackRock’s ETF Without Selling

Bitcoin holders no longer need $25 million to swap coins into the BlackRock Bitcoin ETF. The minimum just fell to $1 million, opening a direct route into iShares Bitcoin Trust (IBIT) without selling first.

Robbie Mitchnick, BlackRock’s head of digital assets, revealed the cut on Bloomberg’s ETF IQ show on August 10. He said the firm wants to push the bar even lower over time.

A Lower Bar for the BlackRock Bitcoin ETF Bloomberg ETF analyst Eric Balchunas flagged the change after the broadcast. Until now, the door stood open only to the very largest holders.

Interesting: Robbie Mitchnick said on show just now that bitcoiners can do in-kind exchanges of btc for IBIT for $1mil minimum now. It used to be $25mil.