Почему «киты» перевели биткоин на миллиарды долларов в акции ETF в США

cryptonews.ruPublished on 2025-12-20Last updated on 2025-12-20

Обновленные правила работы криптовалютных ETF в США дали консервативным держателям криптовалюты комфортные условия для инвестиций

Крупные держатели биткоина стали активнее переводить свои монеты в биржевые фонды (ETF), пишет Bloomberg. С лета этого года клиенты ETF могут конвертировать биткоины в акции фондов без перехода на доллары, и только один ETF от BlackRock привлек таким образом уже более $3 млрд в криптовалюте.

В июле в США крупным инвесторам разрешили натуральный обмен своих монет на акции ETF, что стало практиковаться в большинстве фондов (модель расчетов in-kind). При таких операциях не регистрируется продажа, не используются фиатные средства, и, как правило, эти действия не облагаются налогом, отмечает издание.

Изначально фонды могли работать только по модели in-cash, можно было только продать биткоины за доллары и на эти деньги купить акции ETF. Новый подход позволил передавать криптовалюту напрямую.

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По словам опрошенных изданием криптоброкеров, интерес со стороны состоятельных клиентов продолжает расти. Многие предпочитают хранить активы в привычной инфраструктуре через банки, брокеров и управляющих.

В BlackRock, которая управляет криптофондом iShares Bitcoin Trust ETF (IBIT), сообщили, что компания уже конвертировала биткоины клиентов более чем на $3 млрд. В Bitwise Asset Management рассказали, что теперь инвесторы ежедневно обращаются с запросами о переводе своих биткоинов по этой схеме. А в Galaxy Digital подтвердили, что уже проводили такие сделки.

Используя это решение, инвесторы сохраняют экспозицию на биткоин, но уже в форме инструмента, который проще учитывать, передавать по наследству или использовать как залог. По словам руководителя направления цифровых активов BlackRock Робби Митчника, крупные держатели биткоинов осознают «удобство хранения активов в рамках существующих отношений» с финансовым посредником.

Как рассказал Митчник, клиенты переводят в акции ETF от 20 до 100% своих биткоинов.

Ирония в том, что биткоин создавался как альтернатива традиционным финансам, но теперь его крупнейшие держатели добровольно возвращают капитал в систему, отметил один из участников рынка.

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