A post by @WuBlockchain on X.
BlackRock Sees Record Demand From Bitcoin Whales Converting BTC Into IBIT Over Security Concerns
@WuBlockchain on X
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BlackRock reported record demand from large Bitcoin holders converting self-custodied BTC into shares of its iShares Bitcoin Trust (IBIT), according to Barron's, as cited by Wu Blockchain. Robbie Mitchnick, BlackRock's head of digital assets, attributed the shift to security concerns among so-called Bitcoin whales. The move signals that major holders are increasingly favoring regulated, custodied exposure over direct ownership. Watch whether the conversion trend continues and how it affects IBIT's assets under management relative to spot Bitcoin ETF peers.
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Named in this story
BlackRock (BLK), IBIT, Bitcoin (BTC), Robbie Mitchnick, Wu Blockchain
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