BlackRock turns Bitcoin and Ether into a profit mine of 260 million dollars..
And its fund is approaching 85 billion
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BlackRock, the largest asset manager in the world, has made a significant leap in the digital finance sector after its Bitcoin and Ether-backed funds recorded annual revenues nearing 260 million dollars, indicating that cryptocurrencies are becoming a major source of income for traditional institutions.
According to data from Onchain Foundation, BlackRock's Bitcoin funds alone earned 218 million dollars, while Ether funds added approximately 42 million dollars. BlackRock's Bitcoin fund is nearing the management of 85 billion dollars in assets, giving it a share of 57.5% of the U.S. market for spot Bitcoin funds, significantly ahead of its competitor Fidelity, which stands at 22.8 billion dollars.
Analysts believe that these figures solidify BlackRock's position as a standard model for the investment industry and could reshape the market trajectory with expectations of Bitcoin prices rising to 200,000 dollars before the end of the year, thanks to institutional inflows and American retirement plans.
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