Mitchnick, head of digital assets at BlackRock, told Barron's that demand from large holders converting their held BTC into IBIT shares is at an all-time high. The top reason given by clients is "security and peace of mind." Barron's statistics show that these exchanges total approximately $3.6 billion. The threshold has dropped from tens of millions of dollars initially to 1 million to 2 million dollars now. BTC is directly exchanged for shares; no prior selling is required. However, it's worth noting that this will be counted as ETF inflows; in reality, no one is buying a single new coin. By the way, does anyone wonder why so many large BTC holders are converting their BTC into IBIT shares, which incurs an additional management fee?