BlackRock’s iShares Bitcoin Trust ETF (IBIT) is now the asset management giant’s most profitable exchange-traded fund, generating $244.5 million in annual revenue just 21 months after launch. It holds almost $100 billion in assets, surpassing funds with decades of revenue. The demand from institutions and retail investors for Bitcoin is evident in IBIT’s success.

IBIT’s rapid growth is highlighted by its $98.47 billion in assets across 1.38 billion shares, with a 0.25% fee, on track to hit $100 billion in just 435 days. Comparing Bitcoin ETFs to traditional ETFs is seen as unfair due to Bitcoin’s structural advantages, leading to its outperformance and potential to become more profitable than older funds.

Bitcoin’s current price is around $124,500, trading flat after reaching a new all-time high above $126,000. Last week, IBIT saw $1.8 billion of the $3.2 billion total inflows into U.S. spot Bitcoin ETFs, indicating strong investor interest. Investment products tied to crypto received $5.95 billion globally last week, per a CoinShares report.

Despite concerns about market downturns affecting Bitcoin, ETFs have opened up the cryptocurrency to a larger investor base, including long-term holders. The success of IBIT reflects the growing interest in Bitcoin and its potential for profitability compared to traditional funds.

Read more at Yahoo Finance: BlackRock’s Bitcoin ETF Is Already Its Most Profitable, Surpassing Older ETFs