Record inflows to BlackRock’s crypto ETFs cement the asset manager’s dominance as institutional investors pour billions into Bitcoin and Ethereum exposure.
BlackRock’s iShares exchange-traded funds (ETFs) helped power the asset manager to a strong quarter of earnings and revenue, underscoring the continued momentum behind its crypto-related products as institutional demand accelerates.
The iShares platform, which includes more than 1,400 ETFs globally, attracted a record $205 billion in total net inflows in the third quarter, according to the company’s quarterly financial statement. Those inflows fueled a 10% increase in organic base fee growth during the quarter and 8% growth over the past 12 months, Chairman and CEO Larry Fink said in a statement.
Fink reiterated that BlackRock is “always preparing for the future,” highlighting ongoing offerings in emerging sectors such as technology, data analytics and digital assets.
