Bitcoin ETFs Surge as BlackRock's Top Revenue Source
The firm's US-listed spot bitcoin ETF IBIT, launched in January 2024, reached $70 billion in assets in record time and has generated hundreds of millions in fees.
BlackRock, the world's largest asset manager, has seen a remarkable surge in revenue from Bitcoin ETFs, with the firm's US-listed spot bitcoin ETF IBIT emerging as the top revenue source, according to a company executive.
Launched in January 2024, the Bitcoin ETF quickly gained momentum, reaching $70 billion in assets in a record time frame. This success translated into hundreds of millions in fees for BlackRock, showcasing the growing popularity and profitability of cryptocurrency investments.
As Bitcoin continues to attract institutional and retail interest, BlackRock's strategic move into the cryptocurrency market has proven to be a lucrative decision, solidifying its position as a major player in the digital asset space.