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BlackRock’s Bitcoin ETF Drives More Revenue Than Its S&P 500 Fund BlackRock’s iShares Bitcoin Trust (IBIT) is now generating more annual fee revenue than its signature tracker of the S&P 500 Index, according to a Bloomberg report. JUST IN: World's largest asset manager BlackRock's #Bitcoin ETF drives more revenue than its S&P 500 fund — Bloomberg pic.twitter.com/7rT4gWXTgl— Bitcoin Magazine (@BitcoinMagazine) July 2, 2025 Despite being only 18 months old, the $75 billion iShares Bitcoin Trust ETF (IBIT) has drawn consistent inflows from investors. With a 0.25% fee, it now generates an estimated $187.2 million in annual revenue, surpassing the $187.1 million earned by BlackRock’s $624 billion S&P 500 ETF (IVV), which charges just 0.03%. “IBIT overtaking IVV in annual fee revenue is reflective of both the surging investor demand for Bitcoin and the significant fee compression in core equity exposure,” said the President at NovaDius Wealth Management Nate Geraci. “Although spot Bitcoin ETFs are priced very competitively, IBIT is proof that investors are willing to pay up for exposures they view as truly additive to their portfolios.” According to Bloomberg data, the surge has been driven by investor demand with IBIT attracting $52 billion of the $54 billion that has flowed into spot Bitcoin ETFs since they began trading in January 2024. It now holds over 55% of the category’s total assets and has seen outflows in only one month. “It’s an indication of how much pent-up demand there was for investors to gain exposure to Bitcoin as part of their overall portfolio without having to open a separate account somewhere else,” said the co-founder of Bespoke Investment Group Paul Hickey. “It also illustrates the leadership of Bitcoin in the crypto space where it’s perceived utility as a store of value has essentially left the others in its dust.” The 25-year-old IVV remains a traditional equity tracking, ranking as the third-largest ETF among more than 4,300 U.S. funds. The swift rise of Bitcoin ETFs reflects a regulatory shift that opened the door to broader adoption. This change has sparked a surge of capital from hedge funds, pensions and banks. As a result, IBIT now ranks among the top 20 most traded ETFs in the market. This post BlackRock’s Bitcoin ETF Drives More Revenue Than Its S&P 500 Fund first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

Bitcoin Magazine

Public Companies Are Buying More Bitcoin Than ETFs for Third Quarter in a Row  Corporate treasuries have surpassed exchange-traded funds (ETFs) in Bitcoin accumulation for the third consecutive quarter, according to new data from Bitcoin Treasuries. Public companies acquired approximately 131,000 BTC in Q2 2025—an 18% increase from the previous quarter—compared to an 8% uptick, or 111,000 BTC, among ETFs.  “The institutional buyer who is getting exposure to Bitcoin through the ETFs are not buying for the same reason as those public companies who are basically trying to accumulate Bitcoin to increase shareholder value at the end of the day,” said Nick Marie, head of research at Ecoinometrics.  In April alone, public company holdings rose 4% while ETFs increased just 2%. “They don’t really care if the price is high or low, they care about growing their Bitcoin treasury so they look more attractive to the proxy buyers,” Marie said. “It’s not so much driven by the macro trend or the sentiment, it’s for different reasons. So it becomes a different kind of mechanism that can push Bitcoin forward.”   Despite the surge in corporate adoption, ETFs remain the largest entity holders of Bitcoin, controlling more than 1.4 million BTC—about 6.8% of the fixed supply cap. Public companies now hold around 855,000 BTC, or 4%.   Some analysts have linked the surge in corporate participation to the favorable policy shift under the Trump administration. In March, Trump signed an executive order for a U.S. Bitcoin reserve, signaling strong federal support for Bitcoin. The last quarter where ETFs led in BTC accumulation was Q3 2024, prior to Trump’s reelection.  BREAKING: President Trump signs executive order officially creating a #Bitcoin Strategic Reserve.
pic.twitter.com/MiyTAbRkE2— Bitcoin Magazine (@BitcoinMagazine) March 7, 2025 Recent moves include GameStop’s entry into Bitcoin holdings, KindlyMD’s merger with David Bailey’s Bitcoin treasury company, Nakamoto, and ProCap’s launch of a Bitcoin treasury strategy ahead of its public debut via SPAC.  Still leading the pack is Strategy (formerly MicroStrategy), which holds 597,000 BTC. “It’s going to be very hard to catch Strategy’s scale,” said Ben Werkman, CIO at Swan Bitcoin. “They’re going to be the preferred landing spot for institutional capital.”  Looking ahead, Marie believes the current pace of corporate Bitcoin adoption may not last forever, suggesting this could be a temporary opportunity. “You can think about this wave as a bunch of companies that are trying to benefit from this arbitrage,” he said.  Still, Werkman sees long-term value in the model. “What people really like about these companies is that they can do something spot Bitcoin holders can’t: go out and accumulate more Bitcoin on your behalf,” he explained.  Disclosure: Nakamoto is in partnership with Bitcoin Magazine’s parent company BTC Inc to build the first global network of Bitcoin treasury companies, where BTC Inc provides certain marketing services to Nakamoto. More information on this can be found here.  This post Public Companies Are Buying More Bitcoin Than ETFs for Third Quarter in a Row  first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

Bitcoin Magazine

Figma Reveals $70M Bitcoin ETF Holdings, Plans to Buy $30M More Design platform Figma revealed in a new SEC filing that it owns $70 million in Bitcoin ETFs and was approved to buy $30 million more. JUST IN: Design app giant Figma revealed it owns almost $70 million in Bitcoin ETFs and was approved to buy $30 million more in BTC pic.twitter.com/Us5F0HMw82— Bitcoin Magazine (@BitcoinMagazine) July 1, 2025 The disclosure came as part of Figma’s S-1 filing, released alongside its bid to go public. Figma held $78.8 million in a Bitcoin exchange-traded fund (ETF) as of December 31, 2024, categorized as a Level 1 asset. As of March 31, 2025, the value declined to $69.5 million, which included in its $1.54 billion total of cash, cash equivalents, and marketable securities.  “We have an investment in a Bitcoin exchange-traded fund,” said the filing document. “The fair value of this investment was $69.5 million as of March 31, 2025. Changes in the fair value of this exchange-traded fund are impacted by the volatility of Bitcoin and changes in general economic conditions, among other factors.” “On March 3, 2024, the Board of Directors approved an investment of $55.0 million into a Bitcoin exchange-traded fund (“ETF”) investment fund operated by Bitwise, Inc,” stated the file. “The investment is classified as an equity security within marketable securities for the periods presented.” On May 8, 2025, the company’s board approved an additional $30 million investment in Bitcoin. Following the approval, Figma purchased $30 million worth of the stablecoin USDC with plans to convert it into Bitcoin at a later date. The filing notes the ETF’s volatility, but also states no credit losses have been recorded on the asset. Figma reported $23.8 million in unrealized gains from equity investments for the year ending December 31, 2024, and $0.3 million for Q1 2024. However, it recognized $9.3 million in unrealized losses for Q1 2025. Interest income from cash, cash equivalents, and marketable securities totaled $63.7 million in 2024 and $15.5 million in Q1 2025. This post Figma Reveals $70M Bitcoin ETF Holdings, Plans to Buy $30M More first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

Bitcoin Magazine

If Institutions Are Buying Why Isn’t The Bitcoin Price Going Up? ETF inflows and institutional purchases continue to climb, yet many investors are puzzled by the muted Bitcoin price action. With billions flowing into BTC, why aren’t we seeing the price explode to new highs? The reality is more nuanced than it first appears. Bitcoin ETF Inflows Looking at the ETF cumulative inflows chart (excluding GBTC outflows), it’s clear that demand from institutional players has been robust. Since the most recent pullback in late March, net ETF inflows have climbed from roughly 527,000 BTC to over 630,000 BTC, an increase of around 100,000 BTC in under 3 months. These are significant numbers, yet the Bitcoin price has largely mainly drifted sideways since the start of 2025. Figure 1: The ETFs have had  ~100,000 BTC of net inflows in the past quarter. View Live Chart It’s important to remember that not all ETF flows represent “institutional” buying in the purest sense. Many ETF purchases come from client allocations, for example, family offices or high-net-worth individuals using platforms like BlackRock. Still, these flows matter, and the steady accumulation is a positive driver for long-term supply and demand dynamics. Bitcoin Treasury Buying Complementing ETF inflows, corporate treasury buying has also been strong, with (Micro)Strategy leading the charge. MSTR alone have seen their holdings have jumped from roughly 528,000 BTC to over 592,000 BTC in this year alone. Across all treasury companies tracked, total holdings now exceed 823,000 BTC, representing an astounding $86 billion in value. Figure 2: Companies like Strategy have accumulated billion of dollars of BTC in recent months. View Live Chart Despite this, many market participants feel underwhelmed by price action compared to prior cycles. But we must contextualize expectations: the BTC market cap is now in the multi-trillion-dollar range. The sheer scale of capital required to drive exponential moves today dwarfs previous cycles. Comparing this cycle to the 10x returns of earlier eras isn’t realistic. In truth, BTC has more than doubled from $40K at the time of ETF launch to recent levels above $110K, a still monumental achievement for a maturing asset class. Bitcoin Supply Overhang To understand why Bitcoin prices haven’t surged even further, we must examine selling behavior. By analyzing HODL Waves data for 1-5 year bands, we can quantify long-term holder profit-taking. Over the past three months, more than 240,000 BTC from these older bands has been distributed to the market, nearly a quarter-million BTC in net outflows. Figure 3: Over 240,000 BTC has been distributed by 1y – 5y holders in recent months. View Live Chart This selling has largely counterbalanced institutional accumulation. Given that daily miner issuance still adds another ~450 BTC to the market, we see why price has struggled to break higher: the market is in a state of supply-demand equilibrium. Meanwhile, open interest on BTC derivatives markets has exploded. From under $5B less than 3 years ago to over $25B today. Many new participants prefer are opting to trade “paper BTC” on derivatives rather than buying spot BTC, which reduces the positive influence on price of increased market participants. Figure 4: Over 240,000 BTC has been distributed by 1y – 5y holders in recent months. View Live Chart Bitcoin Bullish Shifts There is however now reason for optimism. Long-term holder selling is now decelerating, with recent net outflows falling below 1,000 BTC per day, a substantial reduction from previous monthly averages just weeks ago. If institutional inflows remain steady and retail demand starts to awaken, even at levels seen earlier this cycle rather than extreme prior peaks, we could easily see another powerful leg higher. Past instances show that when retail flows surge from these levels, BTC can double in price within months. Figure 5: Long-term holder profit taking has nearly reduced to 0 in recent weeks. Conclusion ETF inflows and treasury purchases are pouring billions of dollars into Bitcoin, but the muted Bitcoin price reaction makes perfect sense when viewed through the lens of supply and demand. Heavy profit-taking by long-term holders and growing derivatives speculation have balanced out the inflows. As long-term selling subsides and institutional buying continues, the stage is being set for the next bullish impulse. Whether we see the euphoric retail mania of prior cycles remains to be seen, but even modest retail inflows combined with current institutional demand could drive prices sharply higher sooner rather than later. Loved this deep dive into bitcoin price dynamics? Subscribe to Bitcoin Magazine Pro on YouTube for more expert market insights and analysis! Click Here To Subscribe To YouTube Channel For more deep-dive research, technical indicators, real-time market alerts, and access to a growing community of analysts, visit BitcoinMagazinePro.com. Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions. This post If Institutions Are Buying Why Isn’t The Bitcoin Price Going Up? first appeared on Bitcoin Magazine and is written by Matt Crosby.

After a slight weekend slump that saw Bitcoin (BTC) dip to $106,600, the leading cryptocurrency has recovered most of its losses and is currently trading close to the $110,000 level. With bullish momentum building, several crypto analysts now believe that BTC may be on track to hit a new all-time high (ATH) in the coming days. Bitcoin To Surge To $112,000? Analyst Says Yes According to a recent CryptoQuant Quicktake post by contributor ibrahimcosar, Bitcoin is forming a classic bullish pattern on the hourly chart – the double bottom. The analyst described this setup as “one of the strongest reversal signals” in technical analysis. Ibrahimcosar explained that this pattern signals a weakening of bearish pressure, with buyers poised to regain control of the market. The first bottom of this formation was observed on May 23 at $106,800, followed by a second low on May 25 at $106,600. For the uninitiated, the double bottom is a bullish reversal chart pattern that forms after a downtrend, characterized by two distinct lows at a similar level with a moderate peak – called neckline – in between. According to the CryptoQuant contributor, the current neckline is around $109,000. At the time of writing, Bitcoin is hovering just above this neckline, confirming the breakout. Importantly, the breakout was accompanied by a surge in trading volume, which analysts interpret as a sign of robust bullish momentum. If $109,000 holds as support, then price levels beyond $112,000 could be on the horizon. The analyst explained in their Quicktake post: Double bottoms are where the market says: ‘We’ve sold enough.’ When buyers defend the second bottom, it sends a message: Now it’s our turn. But remember, not every pattern plays out. Know your risk, make your decision. Fellow analyst Ali Martinez echoed this sentiment in a recent post on X, sharing the following BTC hourly chart that highlights a breakout from the recent downtrend. According to Martinez, Bitcoin is now targeting the $110,000 level and potentially higher. Good Days Ahead For BTC Following a rough first quarter in 2025, Bitcoin has shown significant recovery, surging from a local bottom of $74,508 on April 6 to nearly $110,000. This recent rally has revived bullish sentiment across the market. ​​Fueling the optimism are strong inflows into spot Bitcoin exchange-traded funds (ETFs), indicating renewed institutional interest. Meanwhile, Bitcoin’s open interest recently hit a fresh all-time high, reinforcing expectations of continued price momentum. However, not all indicators are aligned. Bitcoin whales – large holders of BTC – have shown mixed behavior, with some accumulating while others appear to be taking profits. At press time, BTC trades at $109,998, up 2.2% in the past 24 hours.