BlackRock’s Bitcoin ETF Takes In $5B of Holders’ Coins as Kidnapping Fears Mount

Brief

By Dextape Desk · November 9, 2026

Large Bitcoin holders have moved more than $5 billion of coins into BlackRock's iShares Bitcoin Trust, citing fear for their safety. BlackRock digital assets head Robbie Mitchnick told Bloomberg the shift follows outside events such as kidnappings, ransom demands and custody failures. Chainalysis, a blockchain research firm, recorded 46 violent assaults against crypto owners through June, with about half being kidnappings. Depositors receive fund shares in return, which avoids a sale and may postpone a tax payment. Barron's said on Monday that additional major holders are seeking access. Since ETFs buy Bitcoin only when cash arrives, the swapped coins add no new money, and US spot Bitcoin ETFs paid out $26.1 billion through November 5 against $25.6 billion taken in this year.

Why it matters: It shows security worries pushing large holders toward ETF structures while cash leaves these funds, a tension central to how institutions handle Bitcoin.

Mentioned: Bitcoin, BlackRock

Summary by Dextape, based on reporting by BeInCrypto. Machine-written from BeInCrypto’s report and checked against it · How Dextape writes