BlackRock's Bitcoin ETF (IBIT) is now earning more than its massive S&P 500 fund, showcasing the growing institutional demand for cryptocurrencies in a short span of time.
IBIT has garnered $52 billion out of the $54 billion in net spot Bitcoin ETF inflows since SEC approval, holding a majority share in the segment's assets and ranking among the top 20 in US ETF volume.
Nate Geraci notes that IBIT's fees demonstrate investors' willingness to pay for high-conviction crypto investments amidst decreasing passive equity fees.
The relentless inflows into IBIT have not only made it the largest Bitcoin ETF but have also contributed to Bitcoin reaching new highs as major institutions validate direct holdings.