BlackRock Lowers IBIT In-Kind Creation and Redemption Minimum to $1M
BlackRock reduced the reported minimum for in-kind creations and redemptions for its iShares Bitcoin Trust (IBIT) from $25M to $1M, reflected in an updated SEC filing. The change is meant to broaden access to the in-kind process for mid-sized institutional participants via authorized participants. IBIT’s page lists an indicative basket around $1.79M, a 0.25% sponsor fee, and large Bitcoin holdings amid weak returns and $3.03B in August inflows.