BitcoinEthereumMarkets
|3 min ReadBlackRock’s crypto ETFs mint $260M revenue benchmark
Maya Chen
Senior Analyst
Published
Jan 16, 2026
The revenue machine is on
BlackRock’s Bitcoin and Ether ETFs are throwing off 260 million in annualized revenue. The breakdown is clear. 218 million from Bitcoin ETFs. $42 million from Ether products. The data landed Tuesday from Leon Waidmann, head of research at the nonprofit Onchain Foundation, who shared it on X. He calls BlackRock’s model the benchmark for traditional funds.
“This isn’t experimentation anymore,” Waidmann said. “That’s a quarter-billion-dollar business, built almost overnight.”
He compared it to Amazon starting with books. Simple door. Massive empire. These ETFs are the entry point into crypto for the suits. And the suits bring size. That invites copycats across TradFi. Pension funds watch benchmarks. Benchmarks turn into mandates.
The growth story does not stop at fees. Analysts say ETF and corporate treasury inflows can extend this cycle beyond the usual four-year halving rhythm. New pipes. New buyers. More staying power. André Dragosch at Bitwise says adding crypto to US 401(k) plans could be a major capital source. He sees a path that could push Bitcoin toward $200,000 before year end, according to remarks reported by Cointelegraph.
Market share and the next leg
BlackRock’s spot Bitcoin ETF is nearing $85 billion in assets under management. That is 57.5 percent of the US spot Bitcoin ETF market, according to blockchain data from Dune. Less than two years have passed since US spot Bitcoin ETFs began trading on Jan. 11, 2024.
Fidelity sits a distant second at $22.8 billion. That is 15.4 percent of market share. BlackRock’s fund now ranks as the world’s 22nd largest ETF across all categories, up from 31st in January, per ETF Database.
Why this matters now
This is not a narrative. It is cash flow plus market depth. Ryan Lee, chief analyst at Bitget, sees a supportive backdrop. “With BTC and ETH ETFs already attracting massive inflows, the macro backdrop favors a buy the dip approach,” he told Cointelegraph. Institutional entry during policy noise can set a bullish floor. Floors lead to breakouts.
Here is the blueprint. Follow the money. Watch the share leaders. Track retirement channels. When the rules and rails line up, price discovery follows. The window is open. Move with intent before the crowd prices it in.
Disclaimer: This document is intended for informational and entertainment purposes only. The views expressed in this document are not, and should not be taken as, investment advice or recommendations. Recipients should do their own due diligence, taking into account their specific financial circumstances, investment objectives and risk tolerance, which are not considered here, before investing. This document is not an offer, or the solicitation of an offer, to buy or sell any of the assets mentioned.