A holder moved $5 billion in Bitcoin into BlackRock’s Bitcoin ETF.
BeInCrypto reports that the move was driven by the holder’s concerns about kidnapping risk. The key distinction: this kind of transfer doesn’t inject new money into the Bitcoin market; it simply changes the form of the holdings from self-custody to ETF shares.
· For the holder, private-key risk is replaced by fund-share and custodian risk.
· For the market, this portion of ETF inflow data doesn’t represent new buying.
When you look at ETF inflows, do you first distinguish between in-kind transfers and cash subscriptions?
$BTC
BeInCrypto reports that the move was driven by the holder’s concerns about kidnapping risk. The key distinction: this kind of transfer doesn’t inject new money into the Bitcoin market; it simply changes the form of the holdings from self-custody to ETF shares.
· For the holder, private-key risk is replaced by fund-share and custodian risk.
· For the market, this portion of ETF inflow data doesn’t represent new buying.
When you look at ETF inflows, do you first distinguish between in-kind transfers and cash subscriptions?
$BTC
