Bitcoin Whales Have Moved $5B into BlackRock ETFs in Tax-Deferred Swaps

BlackRock's spot Bitcoin ETF (IBIT) has processed over $5 billion in tax-deferred Bitcoin-to-ETF swaps, indicating significant whale activity. The firm recently lowered the minimum for in-kind conversions to $1 million, facilitating these moves. This highlights growing institutional adoption of Bitcoin through traditional financial vehicles, potentially boosting BTC's market liquidity and price stability.