BlackRock’s spot Bitcoin ETF has officially become the asset manager’s most profitable exchange-traded fund, according to Bloomberg. This marks a historic milestone for both the company and the broader crypto market, signaling how far institutional adoption has advanced.
A record pace of growth
Launched in January 2024, the iShares Bitcoin Trust (IBIT) has amassed around USD 88 billion in assets under management, putting it among the top 20 US ETFs overall and the seventh-largest in BlackRock’s portfolio. Analysts expect it to cross USD 100 billion by the end of July.
IBIT reached USD 80 billion AUM in just 374 days, a growth rate nearly five times faster than any ETF in history. It now holds over 700,000 BTC, roughly 3.6% of all circulating Bitcoin.
Why this fund leads BlackRock’s earnings
High inflows, Bitcoin’s surge past USD 120,000, and a 0.25% fee have propelled IBIT to generate roughly USD 187 million in annual revenue, narrowly topping BlackRock’s flagship S&P 500 ETF (IVV).
Strong demand comes from both institutional and retail investors. Recent data suggests retail accounts for about USD 135 billion of total spot Bitcoin ETF assets. On a single day in July, IBIT pulled in nearly USD 1 billion, underlining massive appetite for regulated Bitcoin exposure.
What this means for Bitcoin and Wall Street
BlackRock’s success with IBIT reinforces Bitcoin’s status as an institutional-grade asset and could trigger a broader wave of crypto financialization. Industry observers now predict Bitcoin ETFs might grow to three times the size of gold ETFs within five years.
This record-breaking performance is likely to push rivals like Fidelity and Invesco to expand their own spot crypto offerings, further deepening market liquidity.
