BlackRock Surpasses $10 Trillion AUM Milestone, Credits ETF Growth and Bitcoin Influence

BlackRock, the world’s largest asset manager, has achieved a significant milestone by surpassing the $10 trillion mark in assets under management (AUM). The firm reported a record of over $10.6 trillion in AUM, marking a notable $1.2 trillion year-over-year growth. BlackRock attributed this achievement partly to the growing inflows into exchange-traded funds (ETFs), which witnessed record inflows at the beginning of the year.

Larry Fink, the CEO of BlackRock, highlighted the firm’s success in attracting investors, with its ETFs receiving substantial inflows during the second quarter of 2024. Investors bought $83 billion worth of BlackRock ETF shares during this period, contributing to this year’s total surpassing $150 billion year-to-date. Fink credited BlackRock’s growth to its strong relationships with corporates and governments, which have facilitated its remarkable revenue increase of 8% year-over-year and an 11% rise in operating income.

Furthermore, BlackRock’s ETF activities have played a crucial role in the positive turnaround of Bitcoin’s price. The firm’s prominence as an ETF issuer, including the iShares Bitcoin Trust (IBIT), holding over $19.4 billion worth of Bitcoin, has significantly influenced Bitcoin’s market trends. Recent data showed that US spot Bitcoin ETFs recorded a notable increase in net positive inflows, helping boost Bitcoin’s price above the $60,000 mark. BlackRock witnessed substantial investor inflows, underscoring its influence in shaping the cryptocurrency market alongside its traditional asset management operations.