BlackRock has processed more than $5B in tax-deferred Bitcoin-to-ETF swaps, with eligible investors now able to make the conversion from as little as $1M.  The change is significant because the minimum was previously $25M, meaning BlackRock has lowered the barrier by 96% for large Bitcoin holders looking to move into its IBIT ETF. The structure allows eligible investors to exchange BTC directly for ETF shares instead of selling their Bitcoin for cash first. That can help defer a potential capital-gains tax event while also moving custody from private wallets into a regulated ETF structure, depending on the investor’s circumstances. #BTC Price Analysis# #Macro Insights# $BTC $ETH