Analyst: Some Bitcoin whales are converting physical BTC into ETFs, with IBIT having executed approximately $3 billion in trades.

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.