BlackRock’s cryptocurrency-based exchange-traded funds (ETF) became a machine that generates revenue, carrying a $ 260 million income for the world’s largest owner, which signed a “benchmark” model for traditional investment funds looking for useful business models.
Blackrock’s Bitcoin (Btc) and ether (Eth) ETFs make up a total of $ 260 million in annual income, including $ 218 million from Bitcoin ETF and $ 42 million from Ether products, According to In the data shared on Tuesday by Leon Waidmann, head of research at the Nonprofit Onchain Foundation.
The profitability of ETFs focused on the blackrock crypto can drive more giant investments from the traditional financial space (tradfi) to launch regulated cryptocurrency -based regulated products, including blackrock’s Crypto ETFs that serves as a “benchmark” for institutions and traditional funds for pensioners, said Waidmann.
“This is no longer an experiment. The world’s biggest owner has proven that crypto is a serious income center. That is a quarter-billion dollar business, built almost overnight. For comparison, many fintech unicorn has not been doing that in a decade.”
Waidmann compared the ETFs to Amazon, which started with books before scaling at all. He said ETFs are the “entry point in the crypto world.”
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The growth of Blackrock’s ETFs is seen as evidence that institutions can expand the current cypto market cycle. Streams from ETFs and corporate treasury can continue to fuel demand beyond the traditional four-year cycle of the industry industry, some analysts said.
Integration of cryptocurrency into US 401 (k) retirement plans can also be a major source of capital for bitcoin and push its price to $ 200,000 Before the end of the year, the accoridng with André Dragosch, head of European Research at the Crypto Asset Manager.
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Blackrock’s Bitcoin ETF is close to $ 85 billion milestone
Meanwhile, the Blackrock fund approaches $ 85 billion in total ownership under Management (AUM), which provides a lion’s part or 57.5% of the total share of the Bitcoin ETF market in the US, According to To blockchain data from the dune.
Milestone came less than two years after the first in Bitcoin ETFS trading is January 11, 2024.
In contrast, the ETF of Fidelity holds only $ 22.8 billion, worth 15.4% of the total market sharing as the second largest largest US Bitcoin ETF area.
It makes the Blackrock area Bitcoin ETF the world’s largest funds in both crypto and traditional ETFs, from Th -31 largest In January, According to in data from Vettafi.
Meanwhile, ETF Inflows can help Bitcoin see another price discovery of new all-time highs over the next few weeks, according to Ryan Lee, Chief Analyst at the Bitget Exchange.
“Through BTC and Eth ETF that attract massive flow, the Macro backdrop favors a ‘buy a sinking strategy’, as entering the institution amid policy noise helps cement a bullish floor for risk ownership,” Analyst told cointelegraph.
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