Bitcoin holders turn to BlackRock ETFs to ease custody burden
Photo: TokenPost
Holders are shifting directly owned Bitcoin into spot ETFs, particularly BlackRock’s fund, as the burden of safeguarding their own assets drives demand for a different ownership structure. On Yahoo Finance’s October 20 broadcast, host Scott Melker relayed an explanation from Alex Thorn of Galaxy Research, who described a major trend of investors converting existing Bitcoin holdings into ETFs. Thorn said BlackRock was receiving the bulk of that activity. Thorn linked the shift to concerns about hardware-wallet security, saying some holders were giving up self-custody after hacking incidents.
Source: TokenPost
