BlackRock’s Bitcoin ETF earns more revenue than its $624 billion S&P 500 fund: Bloomberg
The Block
Jul 02, 2025 17:24:18
BlackRock's spot Bitcoin exchange-traded fund is earning more revenue than the firm's $624-billion S&P 500 ETF, according to a report from Bloomberg on Wednesday.
The asset manager's iShare's Bitcoin ETF (ticker IBIT) edges out its S&P 500 product in earned revenue thanks to a higher expense ratio, the report said. "With an expense ratio of 0.25%, the fund brings in an estimated $187.2 million in annual fees ... [t]hat slightly edges out the $187.1 million made by BlackRock’s iShares Core S&P 500 ETF (IVV), which is nearly nine times larger at around $624 billion in assets, and charges just 0.03%," Bloomberg said.
IBIT, which started trading at the beginning of last year alongside approximately a dozen Bitcoin ETFs, currently has over $70 billion in assets under management, making it by far the most popular ETF to track the price of Bitcoin. The fund's AUM hit a new all-time high this year.
"IBIT overtaking IVV in annual fee revenue is reflective of both the surging investor demand for Bitcoin and the significant fee compression in core equity exposure," Nate Geraci, president at NovaDius Wealth Management, told Bloomberg. "Although spot Bitcoin ETFs are priced very competitively, IBIT is proof that investors are willing to pay up for exposures they view as truly additive to their portfolios."
Wall Street giants like BlackRock and other large-scale financial institutions, like sovereign wealth funds, showing interest in Bitcoin has caused the price of the cryptocurrency to surge amid the widespread legitimization of the digital asset. Bitcoin was changing hands at $109,507.12 at press time, according to The Block Price Page.
Among spot Bitcoin ETFs, Fidelity Investments has the second-most popular fund with about $32 billion in assets under management. BlackRock also offers a spot Ethereum ETF but it is much smaller than the BTC fund.
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