BLK•Wealthy Bitcoin holders are shifting assets into BlackRock’s iShares Bitcoin Trust, prioritizing security over direct custody. Recorded in-kind conversions totaled approximately $3.6 billion and were reportedly disclosed in a November 9 report; actual volumes could be higher.
Wealthy Bitcoin holders are shifting assets into BlackRock’s iShares Bitcoin Trust, exchanging existing Bitcoin holdings for ETF shares. Recorded in-kind conversions totaled approximately $3.6 billion, and actual volumes could be higher.
Institutional custody reduces private-key management responsibilities but introduces counterparty risks. Investors retain Bitcoin price exposure through fund shares, and the conversions do not necessarily create new open-market demand.
