BlackRock: $5B Tax-Deferred BTC ETF Swaps Completed

BlackRock has executed $5B in tax-deferred Bitcoin to ETF swaps, with minimums now lowered to $1M, according to Eric Balchunas. Robbie Mitchnick, head of digital assets at BlackRock, stated the program will expand further as investors react to kidnappings, ransom demands and custody failures by shifting holdings into ETFs.

BTC trades at $78535.96 inside its Bollinger band with upper resistance at $80480.72 and lower support at $75797.87; the 50-EMA at $74430.67 and 200-EMA at $68018.41 anchor the bullish structure while MACD at 1460.18 prints a death cross and RSI at 58.98 stays neutral, pointing to a likely test of EMA50 support before any push toward the upper band.