BlackRock’s iShares Bitcoin Trust (IBIT) now earns more for the firm than any other ETF, driven by a 0.25 percent fee on a rapidly growing asset base that generates an estimated $244.5 million to $260 million per year. The fund reshapes the revenue mix of the world’s largest asset manager and gives traders, treasuries and institutions a regulated door into Bitcoin.
Launched in January 2024, IBIT gathered assets faster than any previous ETF, passing $50 billion and then $70 billion in record time and now sitting just below $100 billion in assets under management. The official crossing of the $100 billion AUM line imminent.
IBIT’s 0.25 percent fee drives an estimated $244.5 million to $260 million in yearly revenue, reflecting a pile of assets that keeps swelling. This fee stream now outpaces all other BlackRock ETFs.
IBIT controls roughly 51 to 56 percent of the spot-Bitcoin ETF market and has neared the $100 billion AUM threshold in record time after debuting in January 2024. Its asset base is now so large that the 0.25 percent fee produces more cash for BlackRock than older funds such as IVV, even though IVV still holds more total assets.
Revenue, growth and market share
Flows have been exceptional, with more than $600 million taken in on many single days and some days topping $1 billion. In January 2025, the entire spot-Bitcoin ETF complex absorbed $5.25 billion of net new money. Over one year, IBIT returned 107.50 percent.
Fee pressure is mounting, as rivals such as Fidelity’s FBTC already charge less and further cuts could shrink IBIT’s revenue.
IBIT now holds over 700,000 BTC, about 56 percent of the 1.25 million BTC locked in ETFs. A sudden large redemption would test custody and operational systems.
With Bitcoin prone to sharp swings. A slide below $110,000 in September 2025 that stemmed from institutional selling.
From energy-use debates to disclosures citing threats from quantum computing and the possibility that individual states could block the product—any of which could slow inflows.
IBIT has shifted BlackRock’s earnings mix in under two years, and the next marker to watch is the official $100 billion AUM crossing that call imminent. Its scale offers a regulated entry point for major investors, but fee competition, concentration and market-regulatory risks will shape the path ahead.
