BlackRock has recorded about $3.6 billion in in-kind conversions of directly held Bitcoin into shares of its spot Bitcoin ETF IBIT since regulators approved the mechanism, according to a Barron’s report cited by BlockBeats.
Security cited as key motivation
BlackRock digital-assets chief Robbie Mitchnick said security and peace of mind were the biggest motivations. He cited institutional-grade cold storage and ETF shares managed by a large fund as alternatives to keeping assets on trading platforms or in always-on hot wallets.
Lower conversion threshold
The minimum threshold for in-kind conversions has fallen from about $30 million initially to about $1 million-$2 million. The threshold is set by transaction intermediaries Galaxy Digital, Talos and Virtu.
Source: BlockBeats English report, published Nov. 10, 2026.