Quick Highlights
- BlackRock’s iShares Bitcoin Trust (IBIT) generated $32 million in Q1 2025 revenue
- Net assets declined to $47.78B from $51.52B in Q4 2024
- Outstanding shares hit 1.013 billion, with share issuances outpacing redemptions
- Bitcoin (BTC) trades at $99,178.74, nearing the $100K resistance level
- New BTC price target: $102,500 if current resistance breaks
- U.S. Policy Shift: Trump’s executive order could reshape the crypto ETF landscape
BlackRock’s IBIT Posts Strong Q1 Despite Market Dip
In a new SEC filing, BlackRock revealed that its Bitcoin ETF, the iShares Bitcoin Trust (IBIT), generated $32 million in revenue in Q1 2025, even as net assets dipped to $47.78 billion, down from $51.52 billion in Q4 2024. Despite this correction, institutional demand remained robust, with share issuances surpassing redemptions by 43 million, pushing total outstanding shares to 1.013 billion.
However, the Net Asset Value (NAV) per share slipped from $53.09 to $47.14, reflecting broader market volatility. IBIT’s NAV peaked at $60.61 on January 21, before hitting a low of $44.62 on March 10.
Efficient Operations and Custody Strategy
Operational costs stayed impressively low relative to asset size. Sponsor fees totaled $33.04 million, while a promotional waiver on the first $5B in assets saved the firm $178,082 — although that waiver expired in January 2025.
To reduce custodial risk, BlackRock added Anchorage Digital Bank in April, expanding beyond Coinbase Custody.
Regulatory Clarity and Government-Backed Momentum
The SEC’s dismissal of its lawsuit against Coinbase in February lifted a major legal cloud from the crypto space. Adding fuel to the bullish outlook, President Trump’s executive order proposed the creation of a “Strategic Bitcoin Reserve” and plans to acquire 1 million BTC over five years. This could drastically reshape demand dynamics for crypto ETFs.
Bitcoin Price Watch: $100K in Sight
Bitcoin (BTC) is showing strong momentum, currently trading at $99,178.74, up 2.13% in 24 hours. The market cap stands at $1.96 trillion, with trading volume up 66.11% to $54.91 billion.
Technical indicators suggest short-term bullishness:
- RSI at 69.96 (approaching overbought)
- 9- and 21-period MAs at $97,926 and $96,118, both below the current price
- A bullish MA crossover supports the ongoing uptrend
Key Levels to Watch:
- Resistance: $100K → Next target: $102.5K
- Support: $96K → Breakdown could test $93.5K
What This Means for Investors
With institutional confidence remaining strong and political momentum potentially driving further demand, IBIT and the broader BTC market are in a compelling phase. Whether you’re an institutional investor or retail trader, this could be a pivotal moment to keep a close eye on Bitcoin’s trajectory.