Cristiano Castro, Director of Business Development at BlackRock Brazil, stated that Bitcoin ETF has become the company's most profitable product line. Currently, the total allocation scale of its U.S.-based IBIT and Brazil-based IBIT39 is close to $100 billion. Among them, the U.S. spot Bitcoin ETF IBIT exceeded the $70 billion scale in just 341 days since its listing in January 2024, holding more than 3% of the total Bitcoin supply. The estimated annualized management fee income in October this year reached $245 million. BlackRock itself is also increasing its holdings of Bitcoin ETFs — its Strategic Income Opportunities Portfolio recently increased its IBIT position by 14%.