[BlackRock Lowers Bitcoin-to-ETF Conversion Threshold to $1 Million, IBIT Surpasses $5 Billion in Total Conversions] According to Bloomberg, BlackRock reduced the minimum transaction size for investors to subscribe to ETF shares with physical Bitcoin from $25 million to $1 million in July this year. Robbie Mitchnick, Head of Digital Assets at BlackRock, stated that its spot Bitcoin ETF, IBIT, has completed over $5 billion in such conversions, up from more than $3 billion disclosed in October last year. This mechanism allows investors to transfer Bitcoin into a fund holding the same asset and exchange it for ETF shares through authorized participants or market makers. Bitwise has also lowered the minimum threshold for such transactions from an initial $100 million to $3 million. Bloomberg noted that as U.S. regulators allowed physical subscriptions last summer, the market infrastructure for migrating crypto assets to ETFs continues to expand.