BLACKROCK SAYS DEMAND IS SURGING TO CONVERT SELF-CUSTODIED #BITCOIN INTO IBIT SHARES ๐
The world's largest asset manager, overseeing $15.5 trillion, is seeing growing interest from Bitcoin holders seeking ETF-based custody.
๐ $5B+ in Bitcoin-to-IBIT conversions processed by August
๐ $25M โ $1M minimum conversion threshold lowered in July
๐ Security concerns are helping drive interest
In other words ๐ Some Bitcoin holders aren't selling. They're changing how they hold their exposure.
These are existing coins being converted into ETF shares, not new Bitcoin purchases.
What do you think about Bitcoin holders converting directly held coins into IBIT shares?$BTC
The world's largest asset manager, overseeing $15.5 trillion, is seeing growing interest from Bitcoin holders seeking ETF-based custody.
๐ $5B+ in Bitcoin-to-IBIT conversions processed by August
๐ $25M โ $1M minimum conversion threshold lowered in July
๐ Security concerns are helping drive interest
In other words ๐ Some Bitcoin holders aren't selling. They're changing how they hold their exposure.
These are existing coins being converted into ETF shares, not new Bitcoin purchases.
What do you think about Bitcoin holders converting directly held coins into IBIT shares?$BTC
