BlackRock and major firms enable in-kind Bitcoin ETF swaps
Business
BlackRock and other big finance players are making it way easier for large Bitcoin holders to swap their Bitcoin directly for ETF shares: no need to sell for cash first.
This in-kind transaction method can help delay taxes and cut down on risks like hacks or losing your crypto.
BlackRock IBIT processed over $5 billion
BlackRock's IBIT fund has already handled more than $5 billion in these swaps, and Morgan Stanley says 5% to 7% of its own Bitcoin ETF comes from them too.
The approach is catching on with other assets like Ether and Solana.
Plus, in July, BlackRock dropped its minimum swap size from $25 million to just $1 million, opening the door for more players to join in as crypto keeps blending into mainstream finance.