Allocations across BlackRock's Bitcoin ETF offerings, including U.S.-based IBIT and Brazil's IBIT39, have approached $100 billion according to Castro.
Bitcoin News
BlackRock's Bitcoin exchange-traded funds have become the asset manager's most profitable product line despite the firm operating over 1,400 ETFs globally. Cristiano Castro, director of business development at BlackRock Brazil, called the development a major surprise during remarks at the Blockchain Conference in São Paulo.
Allocations across BlackRock's Bitcoin ETF offerings, including U.S.-based IBIT and Brazil's IBIT39, have approached $100 billion according to Castro. The figure stands out given that BlackRock manages more than $13.4 trillion in total assets under management.
"When we launched, we were optimistic, but we didn't expect this scale," Castro told local media at the conference. IBIT reached $70 billion in assets within 341 days, setting a record as the fastest ETF in history to hit that milestone.
Net inflows into IBIT exceeded $52 billion during its first year, outpacing all other ETFs launched over the past decade. The product currently holds $70.7 billion in net assets according to SoSoValue data, representing over 3% of Bitcoin's total supply.
IBIT generated an estimated $245 million in annual fees by October 2025. The revenue stream has materialized despite recent volatility in Bitcoin prices and periodic outflows from the product.
Castro addressed concerns about recent withdrawals, characterizing them as typical retail investor behavior during price declines. "ETFs are a very liquid and powerful tool. They're meant for people to manage flows," he explained.
BlackRock launched IBIT in January 2024 following U.S. regulatory approval of spot Bitcoin ETFs. The product benefited from the firm's global distribution network and surging institutional interest in regulated crypto exposure.
The asset manager has demonstrated confidence in its own product by increasing allocations. BlackRock's Strategic Income Opportunities Portfolio raised its IBIT stake by 14% in recent months, signaling internal conviction about continued growth prospects.
BlackRock has expanded its Bitcoin product suite beyond IBIT to include various linked instruments and exchange-traded products in overseas markets. The broader rollout aims to capture demand across different regulatory jurisdictions and investor segments.
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