BlackRock lowered the minimum transaction size for investors using Bitcoin to receive shares in its spot Bitcoin ETF IBIT from $25 million to $1 million in July. Robbie Mitchnick, BlackRock's head of digital assets, said IBIT has completed more than $5 billion in such conversions, up from more than $3 billion disclosed last October. The in-kind creation mechanism lets investors transfer Bitcoin to a fund that holds the same asset and receive ETF shares through an authorized participant or market maker. Bitwise has also reduced its minimum for similar transactions, from $100 million initially to $3 million. Bloomberg said the market infrastructure supporting the migration of crypto assets into ETFs has continued to expand since U.S. regulators allowed in-kind creations last summer.