Crypto
BlackRock Loosens Conversion Rules for Bitcoin Trust
BlackRock has reduced the minimum amount required for in-kind Bitcoin-to-IBIT conversions from $25 million to $1 million, making it easier for large Bitcoin holders and professional investors to increase exposure through its Bitcoin Trust.
This change aims to improve efficiency, reduce trading friction, and enhance liquidity by minimizing the need for market transactions. According to Pluang, BlackRock's move reflects evolving strategies in Bitcoin investment and custody amid market shifts and security concerns.
Separately, H100 Group, a Swedish Bitcoin treasury company, nearly tripled its Bitcoin holdings through a unique Bitcoin-for-Bitcoin acquisition deal without paying cash.