BlackRock Executive: Bitcoin ETF Has Become Company's Top Revenue Source

BlockBeats News, December 1st, according to Cristian Bittencourt, Head of Business Development for BlackRock Brazil, BlackRock's Bitcoin ETF has become the company's most profitable product line. Data shows that it attracted over $52 billion in net inflows in its first year, far surpassing all other ETFs launched in the past decade. It is expected that IBIT's annual fee revenue will reach approximately $245 million by October 2025.

IBIT's rapid growth has benefited from the support of BlackRock's global distribution network and a wave of institutional interest sparked by the approval of a physically backed Bitcoin ETF by U.S. regulators. Currently, it holds over 3% of the total Bitcoin supply. Subsequently, BlackRock has launched various Bitcoin-related products, including exchange-traded products (ETPs) overseas.

Bittencourt responded to the recent outflows from the Bitcoin fund, stating that such outflows were expected given that retail investors typically react to price drops. "ETFs are very liquid and powerful tools. They are designed to help people manage fund flows." (CoinDesk)