BlackRock’s Bitcoin ETF Nears $100B, Becomes Top Revenue Generator

BlackRock’s iShares Bitcoin Trust ETF (IBIT) has achieved what many considered impossible in the traditional finance world: becoming BlackRock’s most profitable ETF in just 435 days since launch. According to Bloomberg senior ETF analyst Eric Balchunas, IBIT now generates more revenue for BlackRock than funds that have been operating for decades, with the age disparity standing out sharply among BlackRock’s top 10 revenue generators.

The comparison with established funds reveals the extraordinary nature of IBIT’s performance. At just one year old, IBIT outearns the iShares Russell 1000 Growth ETF (IWF), which has been operating for 25 years and holds $121.8 billion in assets. Similarly, the iShares MSCI EAFE ETF (EFA) and the iShares Core S&P 500 ETF, despite managing $68.4 billion and $701 billion respectively over 24 years of operation, also trail IBIT in profitability. This revenue dominance stems from IBIT’s 0.25% fee structure, which generates approximately $244.5 million in annual revenue at current asset levels, compared to BlackRock’s Core S&P 500 ETF which charges zero basis points.

IBIT’s march toward the $100 billion threshold represents one of the most rapid accumulations of assets in ETF history. Balchunas noted that IBIT sits just $2 billion away from this milestone and is on track to shatter the record for the fastest ETF to reach $100 billion. The current record holder, the Vanguard S&P 500 ETF (VOO), achieved this milestone in 2,011 days, while IBIT will complete the journey in roughly one-fifth of that time.

The velocity extends beyond individual fund comparisons into broader market dynamics. IBIT and BlackRock’s iShares Ethereum Trust ETF (ETHA) pulled in $10 billion in monthly inflows as of October 5, ranking third and fourth among all ETFs for monthly flows. According to Bloomberg ETF analyst James Seyffart, Bitcoin ETFs collectively pulled in $3.3 billion in the week ending October 3, pushing year-to-date inflows to $24 billion and lifetime flows to approximately $60 billion. This $60 billion mark represents a new high-water mark for the product category since its launch in January 2024.

The success of IBIT reflects a broader institutional embrace of cryptocurrency investment products. The cumulative flow chart shows a steady acceleration from $12 billion in March 2024 to $40.25 billion in February 2025, followed by a jump to $59.54 billion by October 2025. This massive inflow has had direct implications for Bitcoin’s market price, with the cryptocurrency hitting new all-time highs following the ETF surge, briefly crossing $125,500 on October 6.

The performance of BlackRock’s cryptocurrency ETFs signals a fundamental shift in how institutional investors access digital assets. The combination of substantial asset bases and relatively higher fee structures compared to traditional index ETFs has created a new revenue paradigm for asset managers. As IBIT approaches the $100 billion threshold, it not only breaks records but also establishes a new template for profitability in the evolving landscape of exchange-traded products, demonstrating that cryptocurrency exposure has become a core component of modern investment portfolios.