BlackRock's iShares Bitcoin Trust (IBIT) has surpassed its S&P 500 ETF (IVV) in annual fee revenue, despite managing significantly fewer assets. As of July 1, IBIT's assets totaled approximately $75 billion, generating an estimated $187.2 million in annual fees, slightly exceeding IVV's $187.1 million. Since the approval of Bitcoin spot ETFs in January 2024, IBIT has attracted $52 billion in net inflows, capturing 96% of total inflows in similar products and holding over 55% market share. The ETF's success is attributed to regulatory approval and strong institutional interest, making it one of the top 20 ETFs by trading volume in the U.S.