BlackRock’s iShares Bitcoin Trust ETF (IBIT) on Track to Become Top Revenue-Generating Fund
BlackRock’s iShares Bitcoin Trust ETF (IBIT) is quickly gaining traction in the market, with Bloomberg analyst Eric Balchunas reporting that it is well on its way to becoming BlackRock’s top revenue-generating exchange-traded fund (ETF). Despite being in existence for less than two years, IBIT is already the third-highest revenue-generating ETF for BlackRock out of 1,197 funds.
IBIT’s Impressive Growth
According to Balchunas, IBIT needs to increase its fund assets by less than $10 billion to claim the top spot as BlackRock’s highest revenue-generating ETF. With an estimated revenue of $191 million per year at $76.314 billion in fund assets, IBIT charges investors 25 basis points annually. If the fund’s assets grow by $9 billion, it is projected to generate around $213 million in annual revenue, surpassing the current leader in revenue generation, IWF.
Comparison to Other BlackRock ETFs
Currently, BlackRock’s iShares Russell 1000 Growth ETF (IWF) holds the top spot with $211 million in yearly revenue, charging investors 19 basis points per year. On the other hand, the iShares MSCI EAFE ETF (EFA) generates $207 million in revenue annually with an expense ratio of 0.32%. IBIT’s rapid growth highlights the increasing popularity of Bitcoin and cryptocurrencies among investors.
Current Trading Status
As of the latest close, IBIT is trading at $62.19, showcasing steady performance and investor interest in the fund. With continued growth in fund assets, IBIT is poised to become BlackRock’s top revenue-generating ETF in the near future.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Generated Image: Midjourney