BlackRock’s breakout offering overtakes flagship S&P 500 fund in revenue

BlackRock’s breakout offering overtakes flagship S&P 500 fund in revenue originally appeared on TheStreet.

Wall Street giant BlackRock, Inc. (NYSE: BLK) is now generating more in revenue from its spot Bitcoin exchange-traded fund (ETF) than its signature S&P 500 fund offering, Bloomberg reported on July 2.

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BlackRock is the world's largest asset manager that managed $11.5 trillion in assets under management (AUM) as of 2024. It is among the first institutional giants to introduce crypto-linked funds in the traditional markets.

The asset manager launched the iShares Bitcoin Trust (IBIT), its spot Bitcoin ETF, in January 2024 once the Securities and Exchange Commission (SEC) greenlit it.

IBIT managed more than $75 billion in net assets as of July 2 as per SoSoValue. It is the largest spot BTC fund in the world and accounts for 3.52% of total Bitcoin share.

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As per the Bloomberg report, IBIT has witnessed an astonishing fund inflow from both institutional and retail investors. Since its launch in January 2024, the fund has seen a positive net flow for all 18 months except one.

With an expense ratio of 0.25%, the BTC ETF has generated an estimated $187.2 million in annual fees for BlackRock, as per Bloomberg's calculations as of July 1.

In contrast, BlackRock’s iShares Core S&P 500 ETF (IVV) generated an estimated annual fees of $187.1 million.

Launched in 2000, IVV manages $624 billion in net assets — 8.3 times that of its Bitcoin counterpart. However, its expense ratio is only 0.03% — also 8.3 times lower.

Crypto entrepreneur and podcast host Anthony Pompliano underlined on X that Wall Street is paying full attention to Bitcoin.

As per Kraken's price feed, Bitcoin was trading at $109,131.76, up 1.7% a day.

BlackRock’s breakout offering overtakes flagship S&P 500 fund in revenue first appeared on TheStreet on Jul 3, 2025

This story was originally reported by TheStreet on Jul 3, 2025, where it first appeared.