BULLISH 55 Bitcoin Magazine 18M ago · 4 min read 1 read

BlackRock: security fears push bitcoin whales to swap for IBIT shares

AI summary

BlackRock's Robbie Mitchnick told Barron's that demand from bitcoin whales to swap directly held BTC for IBIT shares is at its highest yet. He cited "security and peace of mind" as the top reason, as kidnappings and hacks rise. A shift of large holders into a regulated spot ETF could deepen institutional custody of bitcoin supply and support IBIT inflows, a modest positive for BTC sentiment.

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