BlackRock Slashes IBIT Conversion Threshold to $1 Million

BlackRock has reduced the minimum amount required for eligible Bitcoin holders to convert their BTC directly into shares of its iShares Bitcoin Trust ETF (IBIT) from $25 million to $1 million.

This change widens access to a conversion process that has already handled more than $5 billion in Bitcoin, according to BlackRock's Head of Digital Assets Robbie Mitchnick.

The transactions allow eligible holders to move their Bitcoin from self-custody into an ETF structure while maintaining exposure to the price of Bitcoin.