[Chain News] The world's largest asset management company BlackRock has dropped a bombshell - the Bitcoin ETF has become their most profitable product line! Cristiano Castro, the head of business development, revealed at the Blockchain conference in São Paulo that the related asset allocation is nearing the $100 billion mark.
The data is even more exaggerated: Their spot Bitcoin ETF product IBIT has reached a scale of 70 billion USD in just 341 days since its launch in January last year. Annualized, the management fee income alone can amount to about 245 million USD. More critically, this fund now holds over 3% of the circulating supply of Bitcoin.
It's indeed quite astonishing how quickly traditional financial giants have established a foothold in the cryptocurrency market.
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APY追逐者
· 23h ago
BlackRock's speed is really amazing, 70 billion in 341 days, TradFi entering the market is just different.
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gas_fee_therapist
· 23h ago
BlackRock really treats encryption as a gold mine, the speed of IBIT is ridiculous.
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GateUser-e51e87c7
· 23h ago
How did Black Rock suddenly become the main player in the Bitcoin business? This pace is really amazing.
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fork_in_the_road
· 23h ago
BlackRock's speed is really amazing, 700 billion in 341 days, TradFi just knows how to play.
BlackRock reveals: Bitcoin ETF becomes the most profitable product line, with assets nearing 100 billion k.
[Chain News] The world's largest asset management company BlackRock has dropped a bombshell - the Bitcoin ETF has become their most profitable product line! Cristiano Castro, the head of business development, revealed at the Blockchain conference in São Paulo that the related asset allocation is nearing the $100 billion mark.
The data is even more exaggerated: Their spot Bitcoin ETF product IBIT has reached a scale of 70 billion USD in just 341 days since its launch in January last year. Annualized, the management fee income alone can amount to about 245 million USD. More critically, this fund now holds over 3% of the circulating supply of Bitcoin.
It's indeed quite astonishing how quickly traditional financial giants have established a foothold in the cryptocurrency market.