BlackRock cuts IBIT in-kind Bitcoin conversion minimum to $1M from $25M

BlackRock has lowered the minimum size for in-kind Bitcoin conversions into shares of the iShares Bitcoin Trust (IBIT) to $1 million from the previous $25 million, according to Bloomberg ETF analyst Eric Balchunas. Balchunas said Bitcoin holders can now convert at least $1 million worth of BTC into IBIT shares through the mechanism. Robbie Mitchnick, head of digital assets at BlackRock, said the goal is to lower that threshold further over time so the in-kind conversion mechanism can eventually be used regardless of trade size.