Bitcoin exchange-traded funds (ETFs) are becoming increasingly attractive to large holders as ETF issuers lower the minimum size for transactions that allow investors to exchange directly held bitcoin for ETF shares.

BlackRock has reportedly reduced the minimum size for these in-kind transactions to about $1 million, from a previous threshold of $5 million. The change makes it easier for bitcoin ‘whales’ and other large holders to move their assets into regulated investment vehicles without having to sell their bitcoin on the open market.

The move is taking place because the market around bitcoin has changed significantly.

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