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Analyst: Some Bitcoin whales are converting physical BTC into ETFs, with IBIT having executed approximately $3 billion in trades.
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According to ChainCatcher, some bitcoin whales, after discovering the advantages of TradFi, have started converting physical bitcoin into ETFs for profit. It is reported that BlackRock’s bitcoin exchange-traded fund IBIT has already executed approximately $3 billion of such customized transactions. This type of transaction is known as portfolio trades, which are very popular in the bond sector.
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