BlackRock Cuts IBIT In-Kind Conversion Minimum to $1M; Sweden's H100 Nearly Triples Bitcoin Treasury

BlackRock has lowered the minimum size for in-kind conversions of Bitcoin into shares of the BlackRock iShares Bitcoin Trust (IBIT) from $25 million to $1 million, broadening access beyond a narrow group of institutions and ultra-high-net-worth investors. The move is expected to make it easier for existing Bitcoin (BTC) holders, funds and professional investors to add IBIT exposure using BTC directly. In-kind creations can reduce reliance on intermediaries to execute large spot-market BTC transactions, potentially improving IBIT's efficiency, cutting trading frictions and supporting liquidity. BlackRock's head of digital assets Robbie Mitchnick said in-kind activity has been rising over the past three quarters since it was permitted. He added that operational and administrative considerations influence where providers are willing to support minimum thresholds. The adjustment follows a recent Coldcard exploit that renewed scrutiny around self-custody. Separately, Sweden-listed Bitcoin treasury and healthtech firm H100 Group said it completed an acquisition that nearly tripled its Bitcoin reserves without using cash. The transaction added 2,455.37 BTC, lifting total holdings to 3,506.4 BTC, after H100 acquired Norway's Moonshot and PDI. The deal was structured as a 1:1 Bitcoin-for-Bitcoin arrangement: rather than paying cash for shares, sellers received H100 shares in exchange for the Bitcoin and assets contributed. Based on Bitcoin's price as of July 31, the transaction was estimated at SEK 1.47 billion. Following the acquisitions, H100's ranking among publicly traded corporate Bitcoin holders rose from 42nd to 26th. Bitcoin fell 1.55% over the past 24 hours to $64,081.90 at press time. Market data also indicates BTC has exited the "Euphoria Zone" in 2026 after repeatedly entering it during the 2025 rally, with price action now resembling a post-euphoria correction and potential accumulation phase. A sustained move above $100,000 could shift sentiment and momentum. Final Summary: BlackRock cut the minimum for in-kind Bitcoin-to-IBIT conversions to $1 million from $25 million. H100 Group nearly tripled its Bitcoin treasury via a share-for-bitcoin acquisition rather than a cash purchase.