BlackRock’s BTC ETF Outearns S&P 500 Fund by $100K
Summary
BlackRock's iShares Bitcoin ETF (IBIT) is generating more annual fees than its flagship S&P 500 ETF (IVV) for the first time. IBIT, with an expense ratio of 0.25% and $75 billion in assets under management, has earned $187.2 million in fees, surpassing IVV's $187.1 million despite IVV's larger size of $624 billion and lower expense ratio of 0.03%. The surge in Bitcoin interest reflects a shift in investor focus, with significant inflows of $52.4 billion since IBIT's January 2024 launch, the highest for any US spot Bitcoin ETF. Bitcoin's price rose to $108,660, while IVV closed at $623.42. US spot Bitcoin ETFs experienced their first net outflow day after 15 days of inflows.
