BlackRock earns $260 million in annual revenue through Bitcoin and Ethereum ETFs

BlockBeats News, on September 23, data shared by Leon Waidmann, Head of Research at the nonprofit Onchain Foundation, on Tuesday shows that BlackRock's bitcoin and ethereum ETF have a total annualized revenue of $260 million, with the bitcoin ETF contributing $218 million and the ethereum product contributing $42 million.

Waidmann stated that the profitability of BlackRock's cryptocurrency-themed ETF may drive more investment giants in the traditional finance (TradFi) sector to launch regulated cryptocurrency trading products. BlackRock's cryptocurrency ETF has already become a "benchmark" for institutions and traditional pension funds.