BlackRock’s Bitcoin ETFs Lead Revenue, Driven by Strong Demand Despite November Withdrawals

BlackRock reports its Bitcoin Exchange Traded Funds (ETFs) have become the most profitable product line for the company, even after exceeding investor withdrawals in November. The shift comes as IBIT nears $100 billion in peak demand and a return to inflows following these withdrawals. 3% of Bitcoin’s supply is held by IBIT, with annual fees reaching $245 million. BlackRock cites strong participation from global investors, including record growth for its IBIT fund which reached $70 billion in assets in less than a year. The company notes that this reflects typical market rotation and investor adjustments to exposure during periods of volatility.