Bitcoin Whales Have Moved $5B Into BlackRock’s IBIT: Here’s Why

BlackRock has facilitated more than $5 billion in Bitcoin-for-ETF-share swaps from private wallets into its IBIT fund, after cutting the minimum size for such in-kind transactions to $1 million in July.

The shift gives investors a way to keep Bitcoin exposure while moving custody into a regulated ETF structure, with security concerns around self-custody adding to the appeal.

BlackRock Lowers Barrier for Bitcoin ETF Swaps As noted in a report by Bloomberg, BlackRock’s iShares Bitcoin Trust first opened its in-kind creation process to private wallets with a $25 million minimum, a threshold that fell to $1 million in July.

IBIT’s total volume for these conversions has climbed past $5 billion, up from more than $3 billion when Bloomberg first reported on the trend last October.