$BTC - BlackRock Drops Bitcoin ETF Swap Minimum to 1M Dollars
BlackRock just made it way easier for whales to ditch self-custody and roll into its spot ETF.
Minimum swap size cut from 5M to 1M USDT, per reporting today.
Lets big holders trade BTC directly for IBIT shares with way less friction.
ETF issuers competing hard for that institutional flow right now.
Probably a sign issuers are hungry for volume, not a top signal. But worth watching if other issuers follow and the swap desks get crowded.
$BTC
#Bitcoin #BTC #Whales
BlackRock just made it way easier for whales to ditch self-custody and roll into its spot ETF.
Minimum swap size cut from 5M to 1M USDT, per reporting today.
Lets big holders trade BTC directly for IBIT shares with way less friction.
ETF issuers competing hard for that institutional flow right now.
Probably a sign issuers are hungry for volume, not a top signal. But worth watching if other issuers follow and the swap desks get crowded.
$BTC
#Bitcoin #BTC #Whales