BlackRock’s AUM Hits New High, Boosted by ETF Growth
Financial titan BlackRock reached a significant milestone by managing over $10.6 trillion in assets.
This growth of around $1.3 trillion in one year is largely driven by the soaring inflows into its ETFs.
The iShares Bitcoin Trust (IBIT), BlackRock’s largest spot Bitcoin ETF, holds more than $19.4 billion in Bitcoin , securing a 35.2% market share among US Bitcoin ETFs. The firm’s significant market influence means its trading activities can considerably impact Bitcoin’s price.
In the second quarter of 2024, investors poured $83 billion into BlackRock’s ETFs, bringing the year-to-date total to over $150 billion. This influx resulted in an 8% revenue increase and an 11% rise in operating income year-over-year.
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Billions of Dollars in Bitcoin Move to crypto exchanges – What Does it Mean?Larry Fink, the company’s CEO, attributes part of this success to BlackRock’s strong corporate and governmental relationships, enhancing its capital partnership in private markets.
Bitcoin’s price recently rose to almost $63,000 due to positive BTC ETF inflows, optimistic views on a potential rate cut by the Fed this year and the assassination attempt on Donald Trump. US spot Bitcoin ETFs have seen net positive inflows for two consecutive weeks, totaling over $414 million, with BlackRock leading the charge on July 12, attracting over $120 million in investments.
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