The bitcoin ETF is the one that generates the most income for BlackRock.

Source: Criptonoticias Original Title: The bitcoin ETF is the one that generates the most income for BlackRock Original Link: The iShares Bitcoin Trust (IBIT), a bitcoin (ETF) exchange-traded fund managed by BlackRock, has established itself as the one that generates the highest revenue for the company, a fact that has even surprised its executives.

Cristiano Castro, business development director at BlackRock in Brazil, noted that the performance of IBIT has exceeded the firm's most optimistic expectations.

Since its launch in January 2024, IBIT has demonstrated exceptional performance, a phenomenon that Castro described as unexpected, mentioning that it approached 100 billion dollars in capital allocation.

This dizzying growth has positioned IBIT as the largest bitcoin ETF in the world in just five months.

The IBIT fund has maintained its momentum despite the recent volatility experienced by the price of bitcoin, highlighting strong institutional demand. Currently, the ETF has under management 776,474 BTC, which represents an approximate value of 70.7 billion dollars and constitutes more than 3% of the total supply of the crypto asset.

This success is largely attributed to BlackRock's strong global distribution network, as well as the institutional interest catalyzed by the regulatory approval of spot bitcoin ETFs in the United States.

Regarding the recent capital outflows observed in IBIT, which coincided with a correction in the price of bitcoin, the executive from BlackRock indicated that these movements are inherent to the nature of the product, stating that ETFs are very liquid and powerful instruments, specifically designed to allow investors to allocate their capital and manage their cash flows efficiently.