iShares Bitcoin ETF (IBIT) from BlackRock continues to set new records, outpacing larger traditional ETFs in revenue.
IBIT's Records and Achievements
iShares Bitcoin ETF (IBIT) from BlackRock has achieved significant success within 18 months of its operation, becoming more profitable than the S&P 500-based ETF (IVV). IBIT has earned $186 million per year in fees, slightly surpassing IVV's $183 million. IBIT manages around $75 billion in assets with a 0.25% fee, while IVV manages $609 billion with a much lower 0.03% fee.
IBIT's Growth Slows
Despite IBIT's lead in revenue, analyst Eric Balchunas noted that IBIT's volatility has decreased to nearly the level of IVV. A year ago, IBIT was 5.7 times more volatile, which fueled its rapid growth, but now its volatility is barely over 1.
Current State of Bitcoin ETFs
Last week, Bitcoin ETFs saw over $500 million in net inflows. Fidelity led the pack with $165 million, followed by BlackRock's IBIT with $153 million. Overall, net weekly inflows into Bitcoin ETFs topped $2.2 billion, marking one of the strongest consecutive inflow periods since their launch.
BlackRock's IBIT continues to showcase impressive results amidst a changing market, although experts express concerns over potential alterations to BTC's natural market cycles.
