BlackRock’s iShares Bitcoin Trust (IBIT) is pulling in more revenue than the firm’s heavyweight iShares Core S&P 500 ETF (IVV), reports Bloomberg^.
The iShares Bitcoin Trust manages around $52 billion in assets and charges a 0.25% management fee, bringing in roughly $187.2 million a year. Meanwhile, the iShares Core S&P 500 ETF oversees $624 billion but charges just 0.03%, generating close to $187.1 million annually. Despite having nearly 12 times less in assets, the iShares Bitcoin Trust’s higher fee means it edges past the S&P 500 fund in revenue.
Launched in January 2024, the iShares Bitcoin Trust has consistently attracted inflows, growing to become the largest spot bitcoin ETF on the market. The fund offers exposure to bitcoin without the need to directly manage wallets or worry about custody risks.
The difference in fees reflects the added complexity and regulatory requirements of managing a digital asset fund compared to a traditional equity ETF. The S&P 500 fund remains a core holding for many investors, tracking the S&P 500 with a fee structure designed to be as low-cost as possible.
This revenue snapshot highlights how fee structures and asset size combine to influence income streams in asset management, with newer crypto products quickly becoming significant contributors despite smaller scale.