BlackRock’s Crypto ETFs Generate $260M in Annual Revenue

BlackRock has swiftly turned its entry into digital assets into one of its most profitable ventures, earning over $260 million annually from crypto exchange-traded funds (ETFs). The majority of this revenue comes from its iShares Bitcoin Trust (IBIT) and Ethereum ETF (ETHA), which now dominate their markets.

According to Dragonfly partner Omar Kanji, IBIT alone brought in roughly $218 million in fees during its first year, while ETHA contributed an additional $42 million. Both funds charge a 0.25% commission rate—substantially higher than most of BlackRock’s traditional ETFs, which typically range between 0.03% and 0.1%. This pricing disparity highlights how investor demand for Bitcoin and Ethereum exposure enables BlackRock to command premium fees.

Launched in January 2024, IBIT quickly became the world’s largest crypto ETF and now ranks as the 22nd largest ETF overall. Data from SoSo Value shows it has attracted $60.6 billion in net inflows, capturing nearly 75% of all U.S. Bitcoin ETF flows. Today, IBIT manages more than $88 billion in assets, cementing its position as the industry’s flagship crypto product.

BlackRock’s Ethereum ETF, ETHA, has followed a similar trajectory. Since its July 2024 debut, ETHA has amassed $13.4 billion in net inflows, accounting for 72.5% of all U.S. Ethereum ETF activity.

The rapid growth of these products reflects both rising institutional demand for digital assets and BlackRock’s ability to capitalize on investor enthusiasm. Within less than two years, the firm has transformed its crypto ETFs into a revenue powerhouse, solidifying its dominance in the digital asset space.