BlackRock's spot Bitcoin ETF, known as iShares Bitcoin Trust ETF (IBIT), has reached several milestones establishing it as a dominant force in the ETF market. As of early July 2025, IBIT held approximately 696,874 BTC valued at $74 billion, later surpassing 700,000 BTC with assets exceeding $75.5 billion. By mid-July, the ETF crossed the $80 billion mark in assets under management (AUM), becoming the fastest ETF in history to do so, achieving this milestone in just 374 days—nearly five times faster than the previous record held by Vanguard's S&P 500 ETF (VOO), which took 1,814 days. This rapid growth has propelled IBIT to become BlackRock's third highest revenue-generating ETF out of 1,197 funds. Furthermore, the Bitcoin ETF now generates more annual fee revenue, approximately $187.2 million, than BlackRock's flagship S&P 500 ETF (IVV), which earns about $187.1 million despite having over eight times the assets under management ($624 billion versus $75 billion). The ETF's success underscores surging institutional demand for Bitcoin and cements BlackRock's position as one of the largest institutional holders of Bitcoin, with IBIT accounting for over 56% of the total U.S. spot Bitcoin ETF supply. Bloomberg reports that IBIT is currently BlackRock's most profitable ETF.