BlackRock’s iShares Bitcoin Trust ETF (IBIT) is rapidly cementing its status as the most dominant BTC fund among its peers.
Bitcoin analyst James Check highlighted the divergence in a June 29 X post, noting that total inflows across all other Bitcoin ETFs have stagnated around $20 billion since December 2024.
In contrast, IBIT alone has drawn over $52 billion in cumulative inflows since its launch, solidifying its dominance in the space.
He further pointed out that this trend is reflected in weekly inflow data, where IBIT attracts the lion’s share of new investments and shows minimal outflows compared to competitors.
Check wrote:
“Dominance for all other ETFs in terms of total AUM has been in constant decline, initially dominated by GTBTC outflows, but more recently due to a clear preference for IBIT by investors.”
This matches data from Bloomberg ETF analyst Eric Balchunas, who noted that based on year-to-date inflows, IBIT now ranks as the fourth-largest ETF in the US.
According to Balchunas’ data, IBIT has leapfrogged over SPDR Portfolio S&P 500 ETF (SPLG) and is closing in on heavyweights like Vanguard Total Stock Market ETF (VTI).
As of June 23, IBIT had recorded $13.7 billion in inflows, which is ahead of SPLG’s $13.4 billion but below VTI’s $19.3 billion.
He also highlighted IBIT’s outlier status, noting that the fund is “the fifth in three-year flows (despite only being alive for 1.5 years).”
These inflows helped the fund cross $70 billion in assets under management (AUM) in just 341 trading days, the fastest rate for any US ETF.
IBIT becomes BlackRock’s most profitable ETF
This breakout performance has translated into significant financial gains for BlackRock.
Nate Geraci, president of ETF Store, pointed out that IBIT generates $186 million annually in fee revenue, surpassing even IVV (BlackRock’s flagship S&P 500 ETF) by $3 million.
According to Arkham Intelligence, this milestone is particularly noteworthy given that IVV is nearly ten times larger than IBIT in terms of assets under management.
The shift signals a broader change in institutional behavior. BlackRock, long associated with traditional equity markets, is now seeing more fee revenue from its Bitcoin ETF than from legacy stock-based products.
