BlackRock's Bitcoin ETF assets are approaching $100 billion, making it BlackRock's most profitable product.

According to ChainCatcher, data from Bloomberg analysts Eric Balchunas and James Seyffart shows that BlackRock's Bitcoin ETF is about to surpass $100 billions in assets under management due to massive capital inflows and the rising price of Bitcoin, with revenue exceeding any of BlackRock's more than 1,000 global funds.

This fund charges a 0.25% fee, generating annual revenue of over $240 millions, an extraordinary achievement in less than two years since its inception. Its pace to reach the $100 billions milestone is about five times faster than other ETFs, with funds coming from both retail and institutional investors. It is the "youngest so far" among the 20 largest ETFs, while the others took years to reach this scale. IBIT has become BlackRock's most profitable product, which is impressive. Bloomberg analysts said they were optimistic about its demand and capital inflows, but the actual numbers have still exceeded their most optimistic expectations.