BlackRock has facilitated over $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. This mechanism allows investors to retain Bitcoin exposure while moving custody into a regulated ETF structure, driven by security concerns around self-custody. Total volume for these conversions has surpassed $5 billion, up from $3 billion in October, and issuers expect minimums to keep falling as more intermediaries build that capacity. BTC has bounced back above $81,000, with spot ETFs receiving over $3 billion in inflows this month, marking the biggest inflows since October.
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