BlackRock, the world's largest asset manager, announced that Bitcoin ETFs have become the company's largest source of revenue. According to Brazilian Business Development Director Cristiano Castro at the São Paulo Blockchain Conference, the IBIT ETF broke a record by reaching $70 billion in value in 341 days. Total Bitcoin ETF assets are approaching $100 billion and generating $245 million in annual fee revenue. Among its more than 1,400 ETFs, this product holds more than 3% of Bitcoin. Even BlackRock's own portfolio increased its investment in IBIT by 14%. This growth, driven by institutional demand, confirms the enduring role of cryptocurrencies in traditional finance.
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BlackRock, the world's largest asset manager, announced that Bitcoin ETFs have become the company's largest source of revenue. According to Brazilian Business Development Director Cristiano Castro at the São Paulo Blockchain Conference, the IBIT ETF broke a record by reaching $70 billion in value in 341 days. Total Bitcoin ETF assets are approaching $100 billion and generating $245 million in annual fee revenue. Among its more than 1,400 ETFs, this product holds more than 3% of Bitcoin. Even BlackRock's own portfolio increased its investment in IBIT by 14%. This growth, driven by institutional demand, confirms the enduring role of cryptocurrencies in traditional finance.
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