BlackRock: $3.6B in BTC Converted to IBIT Shares as In-Kind Threshold Falls to $1M-$2M

Cointime update: BlackRock has recorded about $3.6 billion in bitcoin converted into IBIT shares since regulators approved in-kind redemptions, Robbie Mitchnick, head of digital assets at BlackRock, said on November 10. He said the actual figure may be larger because not all transactions are handled by BlackRock, and that demand is driven by security rather than bitcoin’s price. The minimum threshold for in-kind conversions has dropped from about $30 million to $1 million-$2 million.