BlackRock has quickly established itself as the leader in the U.S. crypto ETF market, with its Bitcoin and Ethereum exchange-traded funds generating $260 million in annualized revenue. Of this, $218 million comes from Bitcoin ETFs and $42 million from Ethereum.
According to data from Onchain Foundation’s Leon Waidmann and analytics platform Dune, BlackRock now manages $85 billion in crypto ETF assets, representing 57% of the spot Bitcoin ETF market. By comparison, Fidelity holds $22.8 billion, a market share of just 15.34%.
BlackRock’s IBIT has attracted more than $60B in flows since launch, while ETHA has gathered $13B. Though daily fluctuations exist, BlackRock’s dominance remains firm. Analysts argue the firm’s revenue strength shows crypto ETFs are now core business lines for asset managers.
Waidmann highlighted that such profitability may encourage pension funds, insurers, and sovereign wealth funds to enter the space, further integrating digital assets into traditional institutional portfolios.
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