The iShares Bitcoin Trust (IBIT) has surpassed BlackRock's S&P 500 ETF (IVV) in annual fee revenue, generating $187.2 million compared to IVV's $187.1 million. This growth is attributed to strong investor interest, with IBIT gaining $52 billion of the total $54 billion flow into Bitcoin ETFs since January 2024. IBIT currently manages over 55% of total category assets and has experienced outflows in just one month. The evolution of Bitcoin ETFs highlights significant regulatory changes and increasing institutional investment in crypto.
IBIT overtaking IVV in annual fee revenue is reflective of both the surging investor demand for Bitcoin and the significant fee compression in core equity exposure.
It's an indication of how much pent-up demand there was for investors to gain exposure to Bitcoin as part of their overall portfolio without having to open a separate account.
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