BlackRock’s iShares division made waves in 2024 with the iShares Bitcoin Trust (IBIT), achieving remarkable success in the financial sector. Within just 11 months, IBIT surpassed $50 billion in assets under management, delivering a performance unmatched by any exchange-traded fund (ETF) to date.
Among BlackRock’s portfolio of over 1,400 ETFs, IBIT stands out as a unique growth story. Todd Sohn, a strategist at Strategas Securities, highlighted that IBIT’s size matches the combined assets of more than 50 ETFs that have been in the European market for over two decades. Nate Geraci, president of The ETF Store, described this as “the biggest launch in ETF history.” Bloomberg Intelligence analyst James Seyffart noted that IBIT’s growth rate is unprecedented, adding that the fund could generate approximately $112 million in annual revenue with its 0.25% expense ratio.
This achievement marks a significant financial milestone for BlackRock while also accelerating institutional adoption of Bitcoin. As the world’s largest investment firm, managing over $11 trillion in assets, BlackRock introduced Bitcoin to a broader investor base through IBIT, solidifying its role in the cryptocurrency’s growing acceptance.
