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The Bitcoin ETF from BlackRock, called IBIT, is now raking in more cash than the company’s long-time favorite: the S&P 500 ETF. Yep, the new crypto kid on the block just showed up the old-school giant.
Let’s break it down. IBIT is about $75 billion big and has pulled in boatloads of money from both big investors and regular folks. It’s been gaining every month except one since it launched in Jan 2024. Even though it charges a 0.25% fee, that’s translated into $187.2 million a year—just a bit more than the $187.1 million earned by BlackRock’s S&P 500 ETF, which is way bigger but charges way less.
Why does that matter? Because it shows investors are willing to pay more if they believe an asset adds real spice to their portfolio.
IBIT is now gobbling up over half of the money in all U.S. Bitcoin ETFs. And it’s not just making noise—it’s making moves. Bitcoin’s price has flown past $100,000, thanks in part to Trump giving crypto a big thumbs-up.
Wall Street’s jumping in headfirst. Hedge funds, pensions, even big banks are going full crypto. And leading the charge? Michael Saylor, stacking Bitcoin like it’s going out of style. Even traders are getting crafty—buying company bonds and shorting the stock at the same time.
Looks like Bitcoin’s not just sitting at the table anymore. It’s hosting the dinner.
ETF (Exchange-Traded Fund): A fund traded on stock exchanges, like a stock.
Spot ETF: A fund that directly holds the asset, like Bitcoin, instead of a future or derivative.
Shorting a stock: Betting that the stock price will go down.
