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BlackRock’s Bitcoin Exchange-Traded Fund (IBIT) Just Two Spots Away From Being Firm’s Top Revenue-Generating ETF: Bloomberg Analyst - The Daily Hodl
BlackRock’s iShares Bitcoin Trust ETF (IBIT) is already generating substantial revenue for the world’s largest asset manager, despite being on the market for less than two years.
In a new post on the social media platform X, Bloomberg analyst Eric Balchunas says that IBIT needs to grow its fund’s assets by less than $10 billion to rank as BlackRock’s top revenue-generating exchange-traded fund (ETF).
“IBIT is now the third-highest revenue-generating ETF for BlackRock out of 1,197 funds, and is only $9 billion away from being #1. Just another insane stat for a 1.5-year-old (literally an infant) ETF. Here’s the top 10 list for BlackRock (aside, how about the forgettable IWF at the top spot, who knew?).”
BlackRock’s IWF or iShares Russell 1000 Growth ETF offers exposure to US firms whose earnings are expected to grow at an above-average rate relative to the market. It has been around since May 2000 and is generating $211 million in yearly revenue, charging 19 basis points per year to investors.
Meanwhile, the firm’s iShares MSCI EAFE ETF (EFA) – which gives investors exposure to a broad range of equities trading in the European, Australian, Asian and Far Eastern markets – was launched in 2001 and is generating $207 million in revenue annually with an expense ratio of 0.32%.
As of Thursday’s close, IBIT is trading at $62.19.
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