BlackRock runs two big ETFs:
IVV (S&P 500 ETF)
- Manages: $630 billion (AUM)
- Fee: 0.03% (tiny)
- Revenue: ~$189 million/year
IBIT (Bitcoin ETF)
- Manages: just shy of $80 billion
- Fee: 0.25% (much higher)
- Revenue: $200+ million/year
Even with a fraction of the assets, IBIT now earns more revenue than IVV — simply because its fees are higher.
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