BlackRock has built a new profit center in digital assets that rakes in more than a quarter of a billion dollars in annualized revenue

BlackRock has built a new profit center in digital assets, raking in more than a quarter of a billion dollars in annualized revenue from its cryptocurrency exchange-traded funds (ETFs) less than two years after ￰0￱ world’s largest asset manager is now positioned as the benchmark for traditional finance firms eyeing exposure to Bitcoin and Ethereum, with analysts suggesting the opportunity could reshape global capital ￰1￱ has earned $260M from BTC and ETH ETFs.), has exceeded $89 billion in assets under management, giving it a 58.7% share of the US spot Bitcoin ETF ￰2￱ contrast, Fidelity’s product holds $22.8 billion, which is 15% of the ￰3￱ ETFs ranked by market share.) retirement plans could help push Bitcoin to $200,000 before ￰4￱ future looks bright Despite the impressive headline figures, questions remain over ￰5￱ compression is a constant risk in the ETF industry as competitors undercut to win flows.

BlackRock’s advantage in distribution and liquidity is formidable, but rivals are expected to push aggressively for more ￰6￱ early 2024, when US regulators gave the green light to spot Bitcoin ETFs, the crypto space has seen considerable growth, and more favorable regulations have entered the industry, making it more attractive for institutional players to enter the field. BlackRock, which has been one of the early institutional believers and one of the biggest institutional holders of BTC, is well-positioned to reap the benefits of its strategic moves. However, it is worth noting that any change in policy or high-profile market failure could dent its ￰7￱ Waidmann put it, “The world’s largest asset manager has proven that crypto is a serious profit center.” The empire has been staked — and the rest of finance is now on ￰8￱ $50 free to trade crypto when you sign up to Bybit now