# BlackRock Executive Sees Record Demand to Convert Bitcoin Into IBIT

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/53728
Published: 2026-11-11T09:09:37.000Z
Updated: 2026-11-11T09:09:37.000Z
Section: Investing

> In-kind contributions let holders exchange BTC for ETF shares without selling Bitcoin on the market.

Large Bitcoin holders are moving self-custodied Bitcoin (BTC) into shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT), with demand for the conversions at its highest level yet, BlackRock digital assets head Robbie Mitchnick said.

The transactions use in-kind contributions, letting holders exchange BTC for ETF shares without first selling the Bitcoin on the market.

Mitchnick said security and peace of mind were the leading motives for the shift.