BlackRock’s Ishares Bitcoin Trust (IBIT) is on the cusp of a major milestone, with management’s assets estimated to be between $98 billion and $100 billion, according to Market Reports.
In the year since launch, the fund has generated approximately $224.44-$245 million in annual revenue, driven by steady inflows and a 0.25% management fee. This meteoric rise has made IBIT one of the most lucrative products in Blackrock’s lineup.
Fast growth and profits
IBIT reached its current size in approximately 435 days. Based on the report, this pace is much faster than it takes many legacy funds to build similar scale. Vanguard’s S&P 500 ETF (VOO) took about 2,011 days to hit $101 billion.
Market watchers said IBIT could become the fastest ETF to reach $100 billion. Bloomberg analyst Eric Balchunas describes the rise as “outrageous.”
The math is simple. Large flows and rising Bitcoin prices drive higher AUM and higher fee income. The loop has been strong this year.
$4 BlackRock’s most profitable ETF, by amount based on current AUM, is currently far from $100 billion. Check out the ages of the rest of the top 10. Absurd. pic.twitter.com/e8zmi2wynx
– Eric Balchunas (@ericbalchunas) October 6, 2025
Flow numbers and market movements
In the most recent trading day, US Spot Bitcoin ETFS saw net inflows of $1.2 billion. IBIT reportedly accounted for approximately $990 million of this total.
Based on market coverage, more than half of ETF inflows into the US market went into IBITs, highlighting the lure for many investors. Money pouring in on this scale could create higher demand for native Bitcoin and amplify price movements.
Some traders are watching these inflow days closely as similar spikes have occurred close to local price levels in the past.
Market Impact and Risks
The report revealed several clear risks to investors and the broader market. One is the premium or discount that can form between the ETF’s market price and its net asset value. In moments of stress, the gap can widen.
The other is regulation. Rules may change in the U.S. or abroad, which may affect flows. Competition can also cause fee pressure from competing issuers to change revenue projections.
Finally, it makes rapid growth easier in the beginning. As your base grows, it will become more difficult to maintain this pace.
Dynamics and strategies move
IBIT’s structure relies on daily creation and redemption by authorized participants and uses a primary custody arrangement with Bitcoin Holdings.
BlackRock is exploring expanding products, such as a Bitcoin “premium income” ETF that generates returns through options strategies, and has taken steps such as filing to create a supporting trust entity, according to filings and industry reports. The move suggests the company is planning multiple ways to serve demand.
Featured image from Newscom, chart from TradingView
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