According to the latest report, BlackRock, the world's largest asset management company, has now surpassed the annual fee income generated by its flagship S&P 500 index fund through its spot Bitcoin ETF.
Nate Geraci, president of NovaDius Wealth Management, stated in an interview with Bloomberg on Wednesday (July 2) that "the annual fee income from IBIT exceeds that of IVV, reflecting a surge in investor demand for Bitcoin and a significant compression of fees for core equity assets."
BlackRock's iShares Bitcoin (BTC) ETF (IBIT) has a fee rate of 0.25% and manages approximately $75 billion in assets, generating an annual fee income of $187.2 million, which is about $100,000 higher than its iShares Core S&P 500 index fund (IVV).
Since its inception in 2000, IVV has been eight times the size of IBIT, managing approximately $624 billion in assets, but has a fee rate of only 0.03%, making the fee rate difference nearly nine times.
Several executives in the crypto industry responded quickly to this news. Crypto entrepreneur Anthony Pompliano posted on X platform, stating, "Bitcoin has now become a focal point of high interest on Wall Street." Strive Funds CFO Ben Pham remarked that Bitcoin will become the ender of both actively managed and passive index portfolios.
Crypto trader Cade O’Neill noted that this fully demonstrates the trend of capital flow. "Institutional investors are no longer just curious; they are actively investing."
James McKay, founder of McKay Research, commented that this news is very positive and is a signal worth paying attention to.
Since its launch in January 2024, BlackRock's IBIT has recorded a net inflow of $52.4 billion, ranking first among all U.S. spot Bitcoin ETFs (data source: Farside).
According to Google Finance data, IBIT closed at $62.41 on Wednesday (July 2), with a daily increase of 4.31%. During the same period, the price of Bitcoin rose by 2.82%, currently reported at $108,660.
The closing price of IVV on the same day was $623.42, up 0.44%.
After 15 consecutive trading days of net inflows, the U.S. spot Bitcoin ETF experienced its first net outflow on Wednesday (July 2).
Related: Layer-2 based stock tokenization lands, Robinhood promotes the on-chain process of real assets.
This article does not contain any investment advice or recommendations. Any investment and trading activities involve risks, and readers should conduct their own research before making decisions.
Original article: “BlackRock Bitcoin (BTC) ETF Annual Fee Income Surpasses Flagship S&P 500 Index Fund”
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