BlackRock Bitcoin ETF’s Remarkable Performance and Prospects
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BlackRock Bitcoin ETF Sets New Profitability Records
Renowned Bloomberg analyst Eric Balchunas has spotlighted the exceptional performance of the BlackRock Bitcoin ETF (IBIT) in comparison to the asset management giant’s older investment vehicles. As this fund nears the impressive $100 billion landmark, it is poised to become the fastest-ever fund to achieve such a milestone.
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Insights into IBIT’s Revenue and Growth
Eric Balchunas, in a recent social media post, unveiled that the BlackRock Bitcoin ETF, rapidly approaching the $100 billion mark, has emerged as the most lucrative fund for the asset manager, significantly outpacing its peers. This achievement is particularly noteworthy given the fund’s relatively young age compared to the other funds managed by BlackRock.
Launched just last year, the BlackRock Bitcoin ETF is currently generating an impressive annual revenue of $244.5 million for the world’s largest asset manager. This figure surpasses the earnings of BlackRock’s 25-year-old Russell 1000 Growth ETF, which brings in $219.3 million annually. Notably, the BlackRock Bitcoin ETF stands out as the only fund among its peers with a single-digit age, whereas the others have been established for 12 years or more.
Asset Growth and Milestone Achievement
Eric Balchunas highlighted that IBIT is on the verge of reaching $100 billion in assets under management (AUM), potentially setting a record as the fastest fund to hit this milestone. The current record is held by the Vanguard S&P 500 ETF, which took 2,011 days to achieve this feat. In contrast, the BlackRock Bitcoin ETF, at just 437 days old, has already amassed $99.44 billion in AUM, indicating it is well on track to break this record by a significant margin.
The BlackRock Bitcoin ETF’s outstanding performance is further underscored by its substantial daily net inflows. On October 6, these Bitcoin funds experienced $1.19 billion in daily net inflows, with IBIT contributing $970 million of this amount. On the following day, a daily net inflow of $875.6 million was recorded, with IBIT accounting for $899.4 million of these inflows.
IBIT Secures a Spot Among Top 20 ETFs by AUM
Eric Balchunas also shared that the BlackRock Bitcoin ETF has swiftly climbed the ranks to become one of the top 20 ETFs by assets under management. With its current AUM, IBIT holds the 19th position on the list of largest ETFs, surpassing Vanguard’s VIG and the renowned Technology Select Sector SPDR Fund.
Future Projections and Market Position
The Bloomberg analyst speculated that if the past year’s trends persist, it may not be long before the BlackRock Bitcoin ETF breaks into the top 10. The fund has absorbed $40 billion over the last 12 months, witnessing an impressive 85% increase. Balchunas estimated that by December 2026, the fund could secure a spot among the top 10 ETFs.
As of the latest data, the price of Bitcoin hovers around $121,500, reflecting a decline of over 2% in the past 24 hours, according to CoinMarketCap.
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