BlackRock's most profitable ETF is now a ‘hair away' from $100B
The iShares Bitcoin Trust ETF (IBIT) has surpassed BlackRock’s second-most profitable ETF by $25 billion, nearing $100 billion in net assets. Over the past year, IBIT generated nearly $245 million in fees, making it the most profitable ETF for BlackRock. Since its launch 22 months ago, IBIT accumulated $97.8 billion in net assets, positioning it to become the fastest ETF to reach $100 billion, outpacing Vanguard’s S&P 500 index fund which took 2011 days to achieve the same milestone. Increased demand for spot Bitcoin ETFs has been driven by a favorable regulatory environment in the U.S. regarding crypto. BlackRock plans to broaden its Bitcoin offerings, including a proposed Delaware trust company to create a product that would sell covered call options on Bitcoin futures, although it will not pursue altcoin ETFs at this stage.
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