CMC News

#Bitcoin ETFs Now BlackRock's Top Revenue Generator, Says Executive

#BlackRock's $BTC 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 $BTC 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 $BTC's total supply.

IBIT generated an estimated $245 million in annual fees by October 2025. The revenue stream has materialized despite recent volatility in $BTC 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.