BlackRock Business Development Director: Bitcoin ETF has become the company's most profitable product line

According to CoinDesk, BlackRock's Head of Business Development Cristiano Castro stated at the São Paulo Blockchain Conference that the Bitcoin ETF has become the company's most profitable product line, with asset allocation nearing $100 billion.

Since the launch of its spot Bitcoin ETF IBIT in January 2024, it has achieved an asset scale of $70 billion within 341 days, generating annual fee revenue of approximately $245 million, and currently holds over 3% of the circulating Bitcoin supply.