Bitcoin holders exchange over $5 billion in BTC for BlackRock's IBIT shares.
Original headline比特币持有人以逾 50 亿美元 BTC 换取贝莱德 IBIT 份额
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BlackRock has converted more than $5 billion of bitcoin held by large holders into shares of its iShares Bitcoin Trust (IBIT) through in-kind redemptions, allowing investors to shift exposure without selling BTC and potentially deferring taxes. BlackRock digital assets head Robbie Mitchnick cited kidnapping, extortion and custodian failures as drivers of the trend and expects it to keep growing. The conversions use existing bitcoin and bring no new cash into the market. US regulators approved in-kind creation and redemption for crypto ETFs in July 2025, and BlackRock lowered its conversion minimum from $25 million to $1 million in July. Watch whether in-kind flows into IBIT accelerate and pull more large-holder BTC into ETF custody.
Muhabbit's AI wrote this summary in its own words from TechFlow's report and translated it from Chinese. It can get details wrong, so check the source.
Named in this story
iShares Bitcoin Trust (IBIT), BlackRock (BLK), Bitcoin (BTC), Robbie Mitchnick
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