PANews reported on December 1st that, according to CoinDesk, Cristiano Castro, Head of Business Development at BlackRock, stated at the São Paulo Blockchain Conference that Bitcoin ETFs have become the company's most profitable product line, with assets under management approaching $100 billion. Since its launch in January 2024, BlackRock's spot Bitcoin ETF, IBIT, has reached $70 billion in assets under management within 341 days, generating approximately $245 million in annualized fees, and currently holds over 3% of the circulating Bitcoin supply.