According to Bitcoin Magazine, citing Barron's, Robbie Mitchnick, head of digital assets at BlackRock, said that activity among large holders exchanging their held BTC for IBIT shares has reached an all-time high, with the number one reason given by clients being security and peace of mind. August 2026: In an interview with Bloomberg, Mitchnick mentioned that kidnappings, extortions, and custody incidents prompted some holders to convert some or all of their positions into ETFs. November 9, 2026: Barron's reported on new developments in these conversions, stating that BlackRock handled approximately $3.6 billion, with the threshold lowered to approximately $1 million to $2 million, facilitated by institutions such as Galaxy, Talos, and Virtu. The above are all media reports. My opinion: Choosing ETFs due to concerns about personal safety is understandable. After the conversion, you hold fund shares in a brokerage account; the underlying BTC is held in custody by the institution, and you no longer control your private keys. While you're less burdened with managing your own keys, you also have to accept the constraints of brokerage firms and custody systems. If you want to continue self-custody, you can use 2/3 multi-signature, separating devices and keys from different brands and channels to avoid having a single location meet the signature threshold. This reduces the risk of single-point theft, but it doesn't prevent ongoing physical coercion. You also need to minimize the exposure of your holdings information.