BITCOIN WHALES MOVING TO BITCOIN ETFS?

According the BlackRock's Robbie Mitchnick, the company has already facilitated over $3B in conversions from $BTC to $IBIT from early whales.

The reasoning?

Convenience.

Also, a new SEC ruling passed that allows for "in-kind" creations and redemptions for crypto ETFs$. This allows participants to exchange ETF shares directly for Bitcoin rather than cash.