BlackRock Exec Says Bitcoin ETFs Becoming A Major Revenue Source Was A ‘Big Surprise’
Spot Bitcoin ETFs (exchange-traded funds) are one of many largest narratives and have been a game-changer within the cryptocurrency house up to now two years. With these funding merchandise, individuals get to take part within the cryptocurrency market with out having to straight personal the digital property.
Curiously, one of many largest winners—that always will get neglected—has been the issuers, particularly because the crypto business has seen elevated institutional adoption because the Bitcoin ETFs launched. Based on the agency’s govt, the BTC exchange-traded funds turning into the main income for BlackRock, the world’s largest asset supervisor, was not envisioned.
BlackRock’s Bitcoin Funds Outweighing Expectations
On the Blockchain Convention 2025 in São Paulo on Friday, November 28, BlackRock’s enterprise improvement director in Brazil, Cristiano Castro, told reporters that the Bitcoin ETFs are the biggest income supply for his or her firm. Based on the manager, this improvement got here as a “massive shock” to the asset administration agency.
Castro mentioned in a press release:
We had been very optimistic after we launched, however we didn’t imagine it will attain such proportions. Simply to provide you an thought, it [IBIT in the US and IBIT39 in Brazil – the asset’s reference names] got here very near US$100 billion [in allocation].
This feat is notable for the Bitcoin ETFs, particularly contemplating that BlackRock presents greater than 1,400 exchange-traded merchandise globally and has a whopping $13.4 trillion in property underneath administration. The US-based Bitcoin fund (with the IBIT ticker) has over $70.7 billion in web property, turning into the primary ETF to succeed in the $70-billion mark (doing so in June 2025).
Whereas the US Bitcoin ETF market has considerably slowed down, BlackRock’s IBIT nonetheless continues to outpace different ETFs launched lately. As earlier studies prompt, IBIT had managed to generate roughly $245 million in annual charges as of October 2025.
Bitcoin ETF Outflows ‘Completely Regular’ – Castro
When requested in regards to the current outflows from BlackRock’s Bitcoin ETF because the market chief’s worth fell, the director said that there are zero surprises in that pattern. “ETFs are very liquid and highly effective devices, and so they serve exactly to permit individuals to allocate their capital and handle their money movement,” Castro famous.
The BlackRock director mentioned that the withdrawals are anticipated, contemplating that the product is closely owned by retail buyers, who’re reactionary in nature to cost corrections. On Friday, the iShares Bitcoin Belief noticed a web outflow of $113.72 million, bringing the weekly document to a destructive $137.01 million and the fund to its fifth-consecutive week of withdrawals.
Featured picture from Getty Pictures, chart from TradingView
