BlackRock’s iShares Bitcoin Belief (IBIT) is now producing extra income than one of many asset supervisor’s most iconic merchandise, the iShares Core S&P 500 ETF (IVV), in keeping with Bloomberg data.

Regardless of having simply $52 billion in AUM — a fraction of IVV’s $624 billion in complete belongings — IBIT’s larger price construction has turned it into a much bigger moneymaker for the world’s largest asset supervisor. Bloomberg estimates that IBIT brings in roughly $187.2 million yearly by means of its 0.25% administration price.

By comparability, IVV, which tracks the S&P 500 and has been a staple in retail and institutional portfolios for years, costs simply 0.03%. Which means it generates round $187.1 million in annual charges, regardless of managing roughly 9 instances extra in belongings than IBIT.

IBIT launched in January 2024 as a part of a wave of spot bitcoin ETFs accredited by U.S. regulators. Since then, the fund has seen inflows each month besides one, amassing $52 billion in belongings thus far. That makes it the biggest spot bitcoin ETF in the marketplace by a large margin.

The fast development of IBIT highlights the continued demand for regulated bitcoin funding merchandise, significantly these provided by established monetary corporations like BlackRock. For buyers, the attraction lies in gaining publicity to bitcoin with out the technical hurdles or safety dangers of holding the asset immediately.

Whereas IBIT’s administration price is larger than extra conventional ETFs, it displays the added complexity, custody and regulatory necessities concerned in providing publicity to a digital asset like bitcoin.