The iShares Bitcoin Trust ETF, or IBIT, has earned BlackRock $25 million more in fees than its second-most profitable ETF and is just shy of reaching $100 billion in net assets. <\/p>\n
BlackRock\u2019s spot Bitcoin exchange-traded fund has generated nearly $245 million in fees over the past year, making it now the most profitable ETF for the firm by a wide margin.\u00a0<\/p>\n
The iShares Bitcoin Trust ETF (IBIT) currently beats the iShares Russell 1000 Growth ETF (IWF) and the iShares MSCI EAFE ETF (EFA) by $25 million in annual revenue, BlackRock ETF analyst Eric Balchunas posted<\/a> to X on Monday.<\/p>\n IBIT became<\/a> the most profitable BlackRock ETF when it surpassed IWF and EFA around mid-July, as previous X posts from Balchunas show<\/a>.<\/p>\n Every other BlackRock ETF in the top 12 by fee revenue has been around more than a decade, Balchunas noted on Monday, while adding that IBIT is now \u201ca hair\u201d \u2014 or $2.2 billion \u2014 away from reaching the $100 billion milestone despite launching just 22 months ago. <\/p>\n BlackRock generates revenue from IBIT through management fees \u2014 currently 0.25%<\/a> of its total assets under management, with revenue increasing as investor demand and Bitcoin\u2019s (BTC<\/a>) price rise.\u00a0<\/p>\n IBIT is the dominant spot Bitcoin fund in the US. Last week, the fund accounted for more than $1.8 billion of the $3.2 billion in total inflows into US spot Bitcoin ETFs in its second-largest week<\/a> on record. Bitcoin broke the $125,000<\/a> mark for the first time over the weekend.<\/p>\n Increased demand for spot Bitcoin ETFs has also been driven by Washington\u2019s warming attitude toward crypto under the Trump administration<\/a>, which has promised to make America the \u201ccrypto capital of the world.\u201d<\/p>\n With $97.8 billion in net assets amassed in just 435 days, IBIT is on track to surpass Vanguard\u2019s S&P 500 index fund (VOO) and become the first ETF to cross $100 billion, Balchunas noted. VOO reached $100 billion in 2,011 days (around five and a half years).<\/p>\n BlackRock filed to register a Delaware trust company for its proposed Bitcoin Premium Income ETF<\/a> late last month, signaling a push to broaden its Bitcoin offerings.<\/p>\n <\/template><\/p>\n BlackRock\u2019s proposed<\/a> product would sell covered call options on Bitcoin futures, collecting premiums to generate yield.\u00a0<\/p>\n Related: <\/strong><\/em>Harvard endowment invests $116M into BlackRock Bitcoin ETF<\/strong><\/em><\/a><\/p>\n The regular distributions would, however, trade away potential upside from investing in IBIT, which mirrors Bitcoin\u2019s price movements.<\/p>\n Balchunas said the move indicated that BlackRock would continue to propose products tied to Bitcoin and Ether (ETH<\/a>) and not join the altcoin ETF frenzy that other asset managers are seeking to offer \u2014 at least for now.<\/p>\n The US Securities and Exchange Commission has paused reviews on crypto ETF applications <\/a>until the federal government reopens.<\/a><\/p>\n Magazine: <\/strong><\/em>Astrology could make you a better crypto trader: It has been foretold<\/strong><\/em><\/a><\/p>\nBitcoins IBIT set to be fastest ever ETF to $100 billion<\/h2>\n
Bitcoins BlackRock is exploring a new way to make revenue from Bitcoin<\/h2>\n