BlackRock’s iShares Bitcoin Trust (IBIT) has broken the 700,000 BTC barrier, according to Glassnode data, just a year and a half after its debut in January 2024. That makes its assets under management worth just under $75.6 billion at today’s values, per CoinGecko data.

The Bitcoin exchange-traded fund is now the third most profitable fund by revenue at the world’s largest asset manager, outstripping both the iShares Core S&P 500 ETF (IVV) and the iShares Russell 2000 ETF (IWM).

These funds both debuted some 25 years ago, in 2000. Though both funds have higher overall assets under management, they do charge lower management fees to investors—hence the Bitcoin ETF’s rapid rise up the rankings.

The news follows a strong fortnight for inflows to BlackRock’s IBIT, which according to data from Farside Investors, Go to Source to See Full Article
Author: Will McCurdy

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