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BlackRock's iShares Bitcoin Trust (IBIT) has surpassed its flagship S&P 500 fund in revenue, generating an estimated $187.2 million in annual fees. Since its launch in January 2024, the fund has seen a positive net flow for all 18 months except one. The expense ratio of IBIT is 0.25%, while its S&P 500 counterpart has an expense ratio of 0.03%.

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