BlackRock IBIT Absorbs $5 Billion in Bitcoin as Whales Shift to ETFs

BlackRock's iShares Bitcoin Trust (IBIT) has absorbed over $5 billion through private in-kind exchanges, as large Bitcoin holders shift assets into regulated ETFs. The mechanism allows eligible holders to transfer BTC directly to the fund for shares, preserving the original cost basis and deferring taxable sales. Demand accelerated after BlackRock... [truncated]