BlackRock Processes Billions in Bitcoin Conversions for Large Investors

BlackRock has processed over $3 billion in Bitcoin conversions for high-net-worth investors through its iShares Bitcoin Trust ETF, according to a statement from Robbie Mitchnick, Head of Digital Assets at BlackRock. This surge in transactions comes amidst growing demand for secure and traditional financial management of digital assets among these investors. Mitchnick declined to specify the exact number of conversions conducted but notes that large holders increasingly prefer utilizing regulated financial services like ETFs for their Bitcoin exposure.