Spot Bitcoin ETFs (exchange traded funds) are one of the biggest stories and have been a game-changer in the cryptocurrency space over the past two years. using these investment productspeople will be able to participate in the cryptocurrency market without directly owning digital assets.
Interestingly, as institutional adoption increases in the cryptocurrency industry, especially since the launch of Bitcoin ETFs, one of the biggest winners, though often overlooked, are issuers. The BTC exchange-traded fund was never intended to become a major source of income for BlackRock, the world’s largest asset manager, according to company executives.
BlackRock’s Bitcoin funding exceeded expectations
Cristiano Castro, BlackRock’s Director of Business Development in Brazil, said this at the Blockchain Conference 2025 in São Paulo on Friday, November 28th. said Reporters said Bitcoin ETFs are their biggest source of revenue. The executive said the development was a “big surprise” for the asset management company.
Castro said in a statement:
We were very optimistic when we launched, but we never expected it to reach this scale. For reference, it (US IBIT and Brazil IBIT39 – the reference names for the assets) came very close to US$100 billion (in allocation).
This feat is remarkable for a Bitcoin ETF, especially considering that BlackRock offers more than 1,400 exchange-traded products worldwide and manages a whopping $13.4 trillion in assets. The US-based Bitcoin fund (ticker: IBIT) has over $70.7 billion in net assets, making it the first ETF to reach the $70 billion mark (achieved in June 2025).
on the other hand, US Bitcoin ETF market BlackRock’s IBIT still outperforms other ETFs launched in recent years. As previous reports suggested, IBIT could generate approximately $245 million in annual fees as of October 2025.
Bitcoin ETF leak “perfectly normal” – Castro
When asked about recent outflows from BlackRock’s Bitcoin ETF, The value of the market leader has fallenthe director said there was no surprise in that trend. “ETFs are very liquid and powerful products that do exactly what they do to help people allocate capital and manage cash flow,” Castro said.
BlackRock directors said the exit was expected given that the product is largely owned by retail investors who are inherently responsive to price corrections. iShares Bitcoin Trust saw net outflows of $113.72 million on Friday, bringing the weekly record to minus $137.01 million and marking the fifth consecutive week of withdrawals from the fund.
Featured image from Getty Images, chart from TradingView
