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How BlackRock’s insatiable $98bn ETF appetite is fuelling new Bitcoin price record

There’s no stopping Bitcoin’s price — or BlackRock. On Monday, the top crypto hit a fresh price record of 126,080justasBlackRocksIBITexchangetradedfundbecametheassetmanagersmostprofitableETF.Itsanextraordinaryfeatforafundthatsbarelytwoyearsold.IBIT,ahairawayfrom126,080 just as BlackRock’s IBIT exchange-traded fund became the asset manager’s most profitable ETF. It’s an extraordinary feat for a fund that’s barely two years old. “IBIT, a hair away from 100 billion, is now the most profitable ETF for BlackRock by a good amount,” noted Bloomberg Intelligence ETF expert Eric Balchunas on X. “Check out the ages of the rest of the Top 10. Absurd.” The speed is ...