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Blackrock Cuts IBIT Bitcoin Conversion Minimum From $25M to $1M

Blackrock has slashed the in-kind conversion minimum on its iShares Bitcoin Trust (IBIT) to $1 million, a 96% cut from the prior $25 million threshold, opening the fund’s redemption mechanism to a far wider pool of investors. Mitchnick Confirms the Change Robbie Mitchnick, Blackrock’s head of digital assets, disclosed the change during a Bloomberg Television […]

Bitcoin.com NewsBitcoin.com NewsShiraz Jagati11 Aug

Italy’s Largest Bank Cuts BlackRock Bitcoin ETF Stake 94%: Rotation to Ethereum?

Intesa Sanpaolo, Italy’s largest banking group, slashed its Bitcoin ETF holding, BlackRock’s iShares Bitcoin Trust (IBIT), by 93.7% last quarter. The bank also tripled its stake in the iShares Staked Ethereum Trust ETF, its new Form 13F shows. The quarterly disclosure adds to evidence that some institutions now favor yield-bearing Ethereum funds over Bitcoin products.

BeInCryptoBeInCryptoHarsh Notariya4 Aug