Cristiano Castro, the Director of Business Development for BlackRock in Brazil, stated that Bitcoin ETF has become the company's most profitable product line. Currently, the total allocation scale of the U.S. IBIT and Brazilian IBIT39 is close to 100 billion USD. Among them, the U.S. Spot Bitcoin ETF IBIT has only taken 341 days to exceed 70 billion USD in scale since its listing in January 2024, holding over 3% of the Bitcoin supply. The estimated annual management fee revenue for October of this year is expected to reach 245 million USD. BlackRock itself is also increasing its holdings in its Bitcoin ETF - the Strategic Income Opportunities Portfolio has recently raised its IBIT Holdings by 14%. (CoinDesk)
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