On July 3rd, Bloomberg reported that BlackRock’s Bitcoin spot ETF, IBIT, has emerged as the firm’s top revenue-generating product, overtaking its flagship S&P 500 index fund. IBIT manages assets worth approximately $75 billion and charges a management fee of 0.25%, positioning it to deliver an estimated annual revenue of $187.2 million. In contrast, the iShares Core S&P 500 ETF (IVV), despite its significantly larger asset base of $624 billion, levies a much lower fee of 0.03% and generates slightly less revenue, around $187.1 million. This development underscores the growing financial impact of cryptocurrency-linked investment vehicles within traditional asset management portfolios, reflecting a shift in investor appetite and fee structures in the evolving ETF landscape.
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Source: https://en.coinotag.com/breakingnews/blackrocks-bitcoin-spot-etf-ibit-surpasses-sp-500-fund-to-become-highest-revenue-product/