BlackRock's Bitcoin ETFs have become a major source of revenue for the firm, with allocations approaching $100 billion, which is surprising considering the firm manages over 1,400 ETFs and $13.4 trillion in assets.
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BlackRock's Bitcoin ETFs have become a major source of revenue for the firm, with allocations approaching $100 billion, which is surprising considering the firm manages over 1,400 ETFs and $13.4 trillion in assets.
The US-listed IBIT Bitcoin ETF, launched in January 2024, reached $70 billion in assets in 341 days and generated estimated annual fees of $245 million.
IBIT now holds over 3% of the total Bitcoin supply, and BlackRock's Strategic Income Opportunities Portfolio increased its stake in IBIT by 14%, betting on the ETF's continued growth.$BTC #DecemberRateCutForecast #BitcoinPriceWatch #AreYouBullishOrBearishToday? #SpotETFApprovalUpdates #CryptoMarketWatch