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  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
  • ethereumEthereum (ETH) $ 2,365.53 1.12%
  • tetherTether (USDT) $ 1.00 0.2%
  • bnbBNB (BNB) $ 302.66 0.19%
  • solanaSolana (SOL) $ 95.44 1.28%
  • xrpXRP (XRP) $ 0.501444 0.1%
  • usd-coinUSDC (USDC) $ 0.996294 0.34%
  • staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
  • cardanoCardano (ADA) $ 0.481226 2.68%
  • avalanche-2Avalanche (AVAX) $ 34.37 1.19%
  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
    ethereumEthereum (ETH) $ 2,365.53 1.12%
    tetherTether (USDT) $ 1.00 0.2%
    bnbBNB (BNB) $ 302.66 0.19%
    solanaSolana (SOL) $ 95.44 1.28%
    xrpXRP (XRP) $ 0.501444 0.1%
    usd-coinUSDC (USDC) $ 0.996294 0.34%
    staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
    cardanoCardano (ADA) $ 0.481226 2.68%
    avalanche-2Avalanche (AVAX) $ 34.37 1.19%
image-alt-1BTC Dominance: 58.93%
image-alt-2 ETH Dominance: 12.89%
image-alt-3 BTC/ETH Ratio: 26.62%
image-alt-4 Total Market Cap 24h: $2.51T
image-alt-5Volume 24h: $144.96B
image-alt-6 ETH Gas Price: 5.1 Gwei
 

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BlackRock IBIT Q1 revenue

BlackRock IBIT Q1 revenue highlights ETF growth and Bitcoin-linked performance trends

https://icn.live/wp-content/uploads/2025/05/bcldj.mp3
  • by ICN.live
Leila Al-Khatib

BlackRock IBIT Q1 revenue reflects a dynamic mix of Bitcoin-driven price action and strong institutional demand.

During Q1 2025, the BlackRock iShares Bitcoin Trust (IBIT) reported $47.78 billion in net assets. This marked a dip from $51.52 billion in the previous quarter. The 11.15% decline in Bitcoin’s price closely tracked the ETF’s reduced NAV per share, which fell from $53.09 to $47.14.

Despite the decrease in BlackRock IBIT Q1 revenue, the ETF still showed impressive resilience. New share issuances outpaced redemptions by 43 million, pushing total shares outstanding to over 1.013 billion. That signals growing investor confidence amid volatile market conditions. The Trust’s largest NAV per share hit $60.61 in January before dipping to a low of $44.62 in March.

Bitcoin ETF demand holds strong despite price dip

IBIT’s Q1 performance underscores its operational strength. The ETF reported modest operational costs relative to its size. Sponsor fees totaled $33.04 million, with an additional $178,082 lost due to BlackRock’s expired promotional fee waiver. This waiver had lowered fees on the first $5 billion in assets, promoting early growth, but expired in January 2025.

Even with Bitcoin’s retreat, IBIT’s strong inflows proved the asset remains a favorite among institutional investors. Pre-market trading showed IBIT at $56 as Bitcoin approached the $100,000 mark again. These gains suggest renewed interest heading into Q2.

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BlackRock IBIT Q1 revenue boosted by structural efficiency

The ETF’s Q1 filing revealed $624 million in realized gains from Bitcoin sales during redemptions. This figure reflects liquidity efficiency and execution performance under pressure. Importantly, these sales demonstrate how the fund converts Bitcoin into dollars without harming overall value.

IBIT’s ability to handle massive volumes underlines its strategic positioning. Market structure risks were acknowledged, but BlackRock’s filings stressed its commitment to managing operational risk with care.

IBIT’s regulatory and custodial strategy evolves in 2025

BlackRock IBIT Q1 revenue numbers come amid structural shifts. Coinbase remained the primary Bitcoin custodian but now shares responsibility with Anchorage Digital Bank. This move adds redundancy and risk protection. The update follows February’s dismissal of the SEC’s lawsuit against Coinbase, lifting a major regulatory cloud.

The report also acknowledged broader risks, including potential custody losses and evolving international policy. U.S. regulators and agencies like FinCEN and OFAC remain engaged, affecting how ETFs like IBIT can operate globally.

President Trump’s March 2025 executive order to create a Strategic Bitcoin Reserve and pending U.S. Bitcoin acquisitions signal a changing regulatory tide. BlackRock appears well-positioned to navigate both opportunity and risk.

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How did BlackRock’s IBIT perform financially in Q1 2025?

BlackRock’s iShares Bitcoin Trust (IBIT) reported $47.78 billion in net assets at the end of Q1 2025, down from $51.52 billion in Q4 2024. This mirrored an 11.15% decline in Bitcoin’s market price, showing the ETF’s close tracking to its underlying asset. Despite this drop, institutional interest stayed strong, with share issuances outpacing redemptions by 43 million. Operationally, IBIT remained efficient, reporting $33.04 million in sponsor fees and modest additional costs. It also realized $624 million in gains through Bitcoin sales to meet redemptions.

Why did IBIT’s NAV fall during Q1?

IBIT’s Net Asset Value (NAV) per share dropped from $53.09 to $47.14 in Q1 2025, primarily due to Bitcoin’s 11.15% price decline. The ETF’s performance is directly tied to Bitcoin’s market value, and fluctuations in Bitcoin’s price significantly impact IBIT’s NAV. The highest NAV was $60.61 in January, while the lowest was $44.62 in March, closely aligning with Bitcoin’s market trends during that time.

What operational changes did BlackRock implement for IBIT in Q1 2025?

BlackRock expanded IBIT’s custody framework by adding Anchorage Digital Bank as a second Bitcoin custodian, alongside Coinbase. This change enhances redundancy and reduces risk exposure, especially in light of Coinbase’s recent regulatory challenges. Additionally, a promotional fee waiver expired in January, which previously reduced management fees for the first $5 billion in assets, slightly affecting Q1 operational costs.

How is IBIT responding to regulatory changes in the crypto space?

IBIT’s Q1 filing reveals proactive measures in addressing regulatory uncertainties. The dismissal of the SEC’s case against Coinbase, its primary custodian, was a positive development. The Trust is also watching U.S. executive actions, such as President Trump’s Strategic Bitcoin Reserve plan, and potential legislation to acquire up to 1 million BTC. Furthermore, BlackRock acknowledges global regulations, including FinCEN’s and OFAC’s actions, as key factors that could influence IBIT’s operations going forward.

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