BlackRock cuts IBIT bitcoin swap minimum to $1M

BlackRock reduced the minimum value required for eligible Bitcoin holders to convert their assets into shares of its iShares Bitcoin Trust ETF, or IBIT, to $1 million in July 2026. Summary BlackRock lowered its minimum Bitcoin-to-IBIT conversion threshold from $25 million to $1 million in July. Bitwise reportedly reduced its comparable minimum from $100 million to $3 million for eligible conversions. IBIT has processed more than $5 billion in Bitcoin swaps, according to BlackRock’s Robbie Mitchnick. In-kind conversions allow eligible holders to exchange Bitcoin exposure for ETF shares through approved intermediaries. Only authorized participants create IBIT baskets, so holders generally need an intermediary to complete conversions. The previous minimum was $25 million, according to an Aug. 25 Bloomberg report. The 96% reduction makes the conversion service accessible to a broader group of wealthy investors and institutions. Bitwise reportedly made a similar change. The asset manager lowered its threshold from $100 million to $3 million, Bloomberg said. Neither figure represents the minimum investment required to buy ordinary ETF shares through a brokerage account. BlackRock has now...