[Analyst: 2%–3% of BlackRock Bitcoin Spot ETF Funds Come from Self-Custody Migration] According to Bloomberg analyst Eric Balchunas, approximately 2%–3% of the inflows into the iShares Bitcoin Trust (IBIT) come from investors migrating their Bitcoin from self-custody to BlackRock's ETF. He stated that if investors primarily value Bitcoin's 'inflation hedge/anti-currency devaluation properties,' ETFs are becoming a more attractive holding method compared to self-custody wallets. However, Bitcoin 'die-hard' supporters who prioritize its 'censorship resistance' are unlikely to accept holding Bitcoin through an ETF. Balchunas believes that as the overall subscription scale of IBIT expands, the proportion of this self-custody migration may continue to increase in the future.