BlackRock Spot Bitcoin ETF Pass S&P 500 for Fees, Don Hit $52B Inflows

Since dem launch am for January 2024, BlackRock Spot Bitcoin ETF (IBIT) don knack $52 billion from total $54 billion wey dey flow inside di sector, and e dey control 55% market share. E dey generate $187.2 million every year as fees for $75 billion asset wey dem dey manage, pass wetin e flagship S&P 500 ETF (IVV) dey make. Di Spot Bitcoin ETF collect new money inside 17 of di first 18 months and e dey among top 20 US ETFs for trading volume. Institutional demand don push Bitcoin price pass $109,000 and pressure traditional fund fees dem. Competition product dem like Fidelity’s Spot Bitcoin ETF and over $4 billion for Ethereum-based ETFs show say regulated crypto adoption dey widespread. SEC approval for Grayscale Digital Large-Cap multi-coin ETF and $33 million first-day volume for REX-Osprey Solana staking ETF na signals say institutional interest for crypto dey increase well well.