Money & Access
BlackRock says security concerns drive bitcoin whales to IBIT fund
Image credit: Bitcoin Magazine
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BlackRock's Robbie Mitchnick told Barron's that demand among bitcoin whales to exchange directly held bitcoin for shares of the firm's iShares Bitcoin Trust (IBIT) has reached its peak, according to Bitcoin Magazine. Security and peace of mind emerged as the primary motivation cited by large holders making the swap.
The shift reflects growing appetite among institutional investors to hold bitcoin through regulated financial vehicles rather than manage private keys and custody arrangements themselves. IBIT, launched as a spot bitcoin exchange-traded fund, offers an alternative path for significant holders to reduce operational and security risks associated with self-custody.
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