BlackRock has lowered the minimum threshold for direct Bitcoin conversions into the iShares Bitcoin Trust ETF (IBIT) to $1 million, down from $25 million previously, according to Bloomberg. The change took effect in July and applies to eligible holders who want to transfer BTC into the ETF structure without first selling it for cash. This move significantly expands the pool of large investors who can use IBIT as a vehicle for holding Bitcoin within the traditional financial system, amid a strong recovery in demand for crypto ETFs.