According to data shared by Eric Balchunas, senior ETF analyst at Bloomberg, BlackRock’s Spot Bitcoin Exchange-Traded Fund IBIT became the asset manager’s third-highest revenue-generating ETF just 18 months after its launch.
Strategy Chair Michael Saylor responded to the milestone by predicting IBIT would soon become a BlackRock revenue-generating ETF.
Under the control of the IBIT Fund, it has approximately $760 billion in assets, with an expense ratio of 0.25%, generating an estimated annual revenue of $191 million.
The revenues are only behind BlackRock’s Ishares Russell 1000 Growth ETF (IWF) which generates around $211 million, and the Ishares MSCI EAFE ETF (EFA) which generates around $207 million.
Another Bloomberg news report noted that IBIT is currently only $9 billion in assets, as it surpasses IWF to become BlackRock’s top revenue-generating ETF from a lineup of over 1,100 funds.
According to Balchunas:
“Another insane statistics for 1.5 year old (literally toddler) ETFs”
IBIT was launched in January 2024 along with other spot Bitcoin ETFs approved by the US Securities and Exchange Commission.
Within days of its debut, IBit became the fastest ETF in history, surpassing $2 billion inflows, surpassing traditional market leaders, and setting multiple records of one-week subscriptions.
By the six-month mark, the fund had already grown to assets of over $50 billion, reflecting the accelerated institutional and retail demand for regulated Bitcoin exposure.
According to the Bloomberg Report, IBIT’s performance highlights the expansion of Bitcoin integration into its traditional portfolio, reflecting the trajectory of gold ETFs over the past 20 years.
The product is widely adopted by liquid-seeking financial advisors, corporate finances and hedge funds, regulating exposure to Bitcoin without direct custody.