BlackRock's Bitcoin ETF annual fee revenue surpasses its S&P 500 ETF flagship product.

According to Gate News bot, Bloomberg reports that BlackRock's iShares Bitcoin Trust (IBIT) has surpassed the annual fee income of its flagship product, the S&P 500 ETF (IVV), even though IBIT's Assets Under Management is only one-ninth of IVV's.

Data shows that as of July 1, IBIT's Assets Under Management reached $75 billion, with annual fee revenue of $187.2 million, surpassing IVV's $187.1 million. Since the approval of the Bitcoin spot ETF in January 2024, IBIT has received a net inflow of $52 billion, accounting for 96% of total inflows in similar products, and currently holds over 55% market share.

With the approval of regulatory agencies and the injection of institutional funds, IBIT has now entered the top 20 ETFs in terms of trading volume in the United States.