Now it is Bitcoin funds that have become the most profitable direction for BlackRock. This was stated by the business development director of the company’s Brazilian division Cristiano Castro.
According to him, revenues from Bitcoin ETFs have already taken first place. And this is despite the fact that BlackRock has over 1400 ETFs worldwide, and the total assets under management exceed $13.4 trillion.
Speaking at the Blockchain Conference in São Paulo, Castro admitted that such results were “a big surprise.” Now the total amount invested in the company’s Bitcoin funds, including the US IBIT and the Brazilian IBIT39, is already approaching $100 billion.
“When we launched, we were optimistic, but did not expect it to grow to such a scale,” he said.
This statement came as Bitcoin funds around the world are simultaneously recording both inflows and outflows of capital.
IBIT breaks records and attracts billions
The IBIT fund launched in January 2024, right after US regulators approved spot Bitcoin ETFs. In just 341 days it became the fastest-growing ETF in history, reaching $70 billion in assets under management. Now, despite Bitcoin price fluctuations, IBIT already holds $70.7 billion, according to SoSoValue.
In its first year, the fund recorded a net inflow of more than $52 billion — more than any other ETF launched in the past ten years. By October 2025, IBIT fee income amounted to about $245 million per year.
Such growth became possible thanks to BlackRock’s global sales network and the growing demand from large investors after regulatory approval in the US.
After rapid growth, IBIT now owns more than 3% of the total Bitcoin supply. Against the backdrop of such success, BlackRock has launched other products related to BTC, including foreign ETPs.
Cristiano Castro also commented on the recent outflows from some Bitcoin funds. According to him, such movements correspond to the typical behavior of retail investors amid falling prices.
“ETFs are a very liquid and powerful tool. They are designed to manage capital flows,” he noted.
Meanwhile, BlackRock itself is also strengthening its position. In particular, the Strategic Income Opportunities portfolio increased its share in IBIT by 14%. This is further confirmation that the company continues to increase its internal exposure to Bitcoin.
Former BlackRock employees launched HelloTrade
Two former employees of BlackRock’s digital division, Kevin Tang and Wyatt Reich, left the company to create their own project. Previously, they participated in BlackRock’s transformation: from skepticism towards crypto to the launch of Bitcoin and Ethereum ETFs.
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Kevin held the position of senior director in the digital assets team, and Wyatt led engineering in the crypto lab. They helped launch IBIT and iShares Ethereum Trust (ETHA) — both funds had record-breaking starts on the exchange and became some of the first crypto ETFs on the market.
Later, they admitted that outside the US, people still find it difficult to invest even in basic assets like US stocks. This is how the idea for HelloTrade was born — a mobile trading platform built on blockchain.
HelloTrade raised $4.6 million and prepares for launch
On Thursday, the startup announced that it had raised $4.6 million in an early round. The round was led by Dragonfly Capital, joined by Mirana Ventures and several private investors.
HelloTrade head Kevin Tang told Fortune: the team wants to make traditional assets, such as stocks or commodities, accessible to anyone with internet access.
“We are confident that the next step in blockchain development is bringing classic financial markets on-chain,” he said.
HelloTrade aims to give people outside the US the opportunity to buy American assets. For example, residents of Vietnam or Indonesia often cannot access stocks like Tesla through local brokers. The company wants to solve this problem using crypto tools. The platform will also feature perpetual futures, giving users more flexibility than regular fiat trading.
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Kevin noted that platforms like Robinhood or Revolut formally provide market access, but often look confusing and inconvenient. HelloTrade focuses on a clear and simple interface. The product has not yet launched, but is expected to start by the end of this or early next year. The team currently consists of about 10 people.
