Bitcoin ETFs Are Now BlackRock’s Top Revenue Source, Exec Says
BlackRock’s bitcoin exchange-traded funds (ETFs) have become the firm’s most profitable product line, according to Cristiano Castro, director of business development at BlackRock Brazil.
The figure is notable given that the firm manages over 1,400 ETFs globally and is the world’s largest asset manager with more than $13.4 trillion in assets under management.
Speaking at the Blockchain Conference in São Paulo to local media, Castro called the development “a big surprise” and said that allocations in the firm’s bitcoin ETFs, including the U.S.-based IBIT and Brazil’s IBIT39, had come close to $100 billion.
“When we launched, we were optimistic,” Castro said, “but we didn’t expect this scale.”
The firm’s U.S.-listed spot bitcoin ETF IBIT, launched in January 2024, became the fastest in history to reach $70 billion in assets, doing so in 341 days. That momentum has continued despite recent volatility in bitcoin’s price, with the ETF currently sitting at $70.7 billion in net assets according to SoSoValue data.
Net inflows exceeded $52 billion in its first year, far outpacing all other ETFs launched in the last decade. IBIT also generated an estimated $245 million in annual fees by October 2025.
IBIT’s rapid growth has been fueled by BlackRock’s global distribution network and a wave of institutional interest following U.S. regulatory approval of spot bitcoin ETFs. It now holds over 3% of bitcoin’s total supply, and it was followed by various BTC-linked products from BlackRock, including ETPs overseas.
Castro addressed recent outflows from bitcoin funds, saying that such movement is expected given how retail investors tend to react to price drops. “ETFs are a very liquid and powerful tool. They’re meant for people to manage flows,” he said.
BlackRock itself has been betting on its bitcoin ETF. Its Strategic Income Opportunities Portfolio has recently raised its stake in IBIT by 14%.
CoinDesk has reached out to BlackRock but didn't hear back at the time of writing.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Asbury's Retro Strategy Increases Profits, Yet Shares Trail the S&P
- Asbury Automotive's nostalgia-driven strategy boosted Q3 2025 earnings, with $7.17 adjusted EPS surpassing estimates and $4.8B revenue up 13% YoY. - New vehicle sales ($2.53B, +17%) and finance/insurance profits ($187.1M, +9%) drove growth, though used vehicle sales lagged due to weak unit demand. - Despite strong fundamentals and value scores (A ratings), ABG stock underperformed the S&P 500 by 1.2%, reflecting mixed investor sentiment amid $3.6B debt concerns. - Analysts highlight Asbury's $28.03/share
Hyperliquid News Today: Community-Led Restaking Challenges Bear Market Expectations While HYPE Tokens Remain Resilient
- Hyperliquid unlocked $60.4M HYPE tokens on 2025/11/29 via its vesting schedule, with 40% restaked and 35% held post-unlock. - Core contributors demonstrated disciplined allocation, contrasting traditional VC-funded projects prone to token dumping. - Market impact was minimal (1.7% dip to $33.80), defying bearish forecasts and showing strong whale accumulation. - Analysts highlight buyback strength ($82M/month) and technical indicators suggesting potential $40+ breakout.
Ethereum News Today: Ethereum Faces a Pivotal Moment at $2,880—Will Institutions Keep Buying or Will Bears Take Over?
- Ethereum hovers near $3,000 amid conflicting technical signals and increased selling pressure from long-term holders offloading 973,600 ETH weekly. - Institutional confidence grows as BitMine accumulates 69,822 ETH ($200M) and ETFs add $96.67M, contrasting with bearish RSI divergence and $2,580 support risks. - Fed rate-cut odds above 80% for December fuel speculative buying, while $2,880 resistance remains pivotal for determining Ethereum's short-term direction. - Whale activity diverges: large whales a
Bitcoin News Today: Bitcoin’s ‘Panda Market’ Position: Holding Steady Rather Than Falling Apart
- Bitcoin's market consolidation sees ETF inflows/outflows diverge, with BlackRock's IBIT leading $42.8M inflows while Fidelity's FBTC faces $33. 3M outflows. - Altcoin ETFs show mixed trends: Solana records first outflows, XRP gains $644M cumulative inflows, and Dogecoin ETFs underperform expectations. - Price drops 30% to $87,000 amid $3.5B ETF outflows, driven by Fed tightening and leveraged position deleveraging, though whale accumulation and derivatives bets hint at potential rebound. - Market stabili
Trending news
MoreCrypto prices
More
