IBIT The Most Profitable BlackRock ETF As The Bitcoin Fund Closes On $100B In Assets

BlackRock’s IBIT is now the asset manager’s most profitable ETF (exchange-traded fund) by a wide margin as the fund nears $100 billion in net assets.

Over the past year, IBIT has generated almost $245 million in fees. This performance beats the iShares Russell 1000 Growth ETF (IWF) and the iShares MSCI EAFE ETF (EFA)  by $25 million in annual revenue, according to Bloomberg ETF analyst Eric Balchunas. 

Around the middle of July, IBIT was still ranked below IWF and EF in terms of revenue, previous X posts from Balchunas show.

Other Top BlackRock ETFs Took A Decade To Get To Their Current Standing

Blachunas also noted that every other BlackRock ETF in the firm’s top 12 list of funds in terms of fee revenue took approximately more than a decade to get to their current standing.

In his post, Blachunas shared a screenshot of the ages of BlackRock’s top 12 ETFs and their respective annual revenue in dollars. This screenshot shows that other than IBIT, the rest of the top five BlackRock ETFs are all over two decades old. 

Top 12 BlackRock ETFs

Top 12 BlackRock ETFs (Source: X)

“Check out the ages of the rest of the Top 10. Absurd,” Balchunas wrote in his post.

IBIT Could Become The Fastest ETF To Hit $100B In Assets

In a comment under his post, Balchunas went on to note that BlackRock’s IBIT is closing in on the $100 billion in asset milestone despite launching less than a year ago. If the current trend continues, his post suggests that IBIT could become the fastest ETF in history to achieve the milestone.

The current record holder is the Vanguard S&P 500 ETF (VOO), which achieved the milestone in 2,011 days. Meanwhile, IBIT has only been trading for 435 days and is $2 billion away from reaching the milestone, according to the Bloomberg ETF analyst.

NovaDius Wealth President Nate Geraci also commented on IBIT potentially reaching the $100 billion milestone. To put the spot Bitcoin ETF’s performance into perspective, Geraci said that only 18 of the more than 4,500 ETFs currently in the market have over $100 billion in assets under management (AUM).

US Spot Bitcoin ETFs Extend Inflow Streak, Assets Hit $169B

BlackRock’s strong performance comes as investors continue to flock to US spot Bitcoin ETFs. After notching their second-highest weekly inflows last week of more than $3.3 billion, investors continued to pour capital into the products in the latest trading session.

According to data from SoSoValue, the funds pulled in $1.19 billion on Oct. 6. Much of these inflows were recorded by IBIT, which saw $969.95 million added to its reserves on the day.  The next-biggest inflows of $112.32 million were posted by Fidelity’s FBTC. 

IBIT has been the dominant US spot Bitcoin ETF since the funds’ inception last year, with its cumulative inflows topping $63 billion. FBTC is next with its cumulative inflows to date standing at $12.73 billion.

Overall, the Bitcoin funds have seen their collective AUM reach $169 billion, according to Bloomberg ETF analyst James Seyffart. 

The strong inflows into spot Bitcoin ETFs have helped the crypto market leader achieve back-to-back all-time highs (ATHs). The first record peak above $125k was reached on Oct. 5. Just 24 hours later, BTC then went on to set a new ATH of $126,198.07, CoinMarketCap data shows. 

BTC price

BTC price (Source: CoinMarketCap)

BTC has since retraced to trade at $124,574.69 as of 1:40 a.m. EST. 

BlackRock Exploring News Ways To Make Money From Bitcoin

BlackRock is looking to expand on its Bitcoin ETF offering to investors as well, and recently filed to register a Delaware trust company for its proposed Bitcoin Premium Income ETF. 

The asset manager’s proposed product would sell covered call options on Bitcoin futures. It will then collect premiums to generate yield. 

However, the regular distributions would reduce any potential upside from investing in IBIT.

According to Blachunas, the move indicates that BlackRock chooses to rather expand on its Bitcoin and Ethereum (ETH) offerings and not participate in the altcoin ETF frenzy, at least for now. 

Related Articles:

  • Michael Saylor Tells MrBeast To Buy Bitcoin Even As He Pauses Strategy Buying
  • Bitcoin Price Falls Below $125k ATH As Saylor Pauses BTC Buying 
  • ASTER Jump 3% On Binance Listing Despite Wash Trading Allegations

Comments

Post a Comment

Popular posts from this blog

Bitcoin Price Prediction: MicroStrategy Boosts BTC Ownership To 1% Of Supply As This Eco-Friendly Alternative Soars Towards $7 Million

Image
The Bitcoin price gained slightly in the last 24 hours to trade at $63,857.08 as of 9:05 a.m. EST as investors tentatively accumulate the crypto. During BTC’s 12% correction over the past 7 days, MicroStrategy bought another 9,245 bitcoins for $623 million in cash between Mar. 11 and Mar. 18, according to a Mar. 19 statement . Following this latest purchase, the company’s total BTC holdings stand at 214,246 BTC, which is more than 1% of the crypto’s total supply of 21 million coins. The Bitcoin Price Bounces Off Of A Key Support 4-hour chart for BTC/USDT (Source: TradingView ) The Bitcoin price rebounded off of the $61,481.65 support level in the last 12 hours. Should bulls continue to push the market leader’s price higher, it may attempt to reclaim a position above $65,847.29 in the coming 48 hours. A 4-hour candle close higher than this significant price point could then give BTC the foundation needed to keep climbing. In this more bullish scenario, th...
Read more

FBI Cautions Hadera Hashgraph Users Against NFT Airdrop Scams

Scams and hacks involving cryptocurrencies and non-fungible token markets are indeed on the rise in 2025. These scams often target unsuspecting individuals, leading to financial losses. In most cases, scammers use various techniques, including impersonation, fake emails, phishing links, and “rug pulls”. In response to the rising scams, the Federal Bureau of Investigation has stepped up to help crypto users from becoming victims of scams. FBI Warn NFT Users Against NFT Airdrop Scams Earlier this week, the Federal Bureau of Investigation issued a cautionary alert about a new scam where cybercriminals exploit non-fungible token airdrops on the Hedera Hashgraph network to steal crypto from cryptocurrency wallets. Hedera Hashgraph is a public, distributed ledger technology platform that uses a unique data structure called a directed acyclic graph to achieve high-performance, secure, and fair consensus. Based on the FBI announcement, cyber criminals have been defrauding cryptoc...
Read more

Solana & Bitcoin Connection Drives SOL to $130 as Halving Nears

Image
The Solana and Bitcoin (BTC) connection has driven SOL to a price below $130, but there is more to the story, with the Bitcoin Having Event just 500 blocks away. Indeed, the Halving is slated to take place in just four days, with the closing of the week seeing it officially take place. For much of last week, Solana ’s connection to Bitcoin has affected its price. As BTC has dropped in value, so too has SOL. That has led to a more than 34% drop in the last 30 days, according to CoinMarketCap. Yet, with many expecting the upcoming supply cut to impact prices, Solana could be one of the most affected. JUST IN: 500 blocks remain until #Bitcoin halving. pic.twitter.com/y5ATHAIrrj — Watcher.Guru (@WatcherGuru) April 16, 2024 Also Read: Solana DEX Volume Back to $1B After Network Update Solana-Bitcoin Connection Could Mean a Turnaround Soon For the last month, Solana has seen some highs and some lows. Its network had been the main player of March’s Me...
Read more