The asset manager achieved the $10 trillion milestone by experiencing record ETF inflows at the start of the year.
BlackRock has achieved a record of over $10.6 trillion in assets under management (AUM), representing a $1.2 trillion year-over-year increase.
The world’s largest asset manager stated that the increasing inflows into exchange-traded funds (ETFs) were a contributing factor to its achievement of the $10 trillion milestone.
Larry Fink, CEO of BlackRock, stated that the company’s exchange-traded funds (ETFs) experienced unprecedented inflows at the commencement of 2024.
As stated in the asset manager’s quarterly earnings report, Fink wrote: “Private markets, retail active fixed income, and surged flows into our ETFs, which had their greatest start to a year on record, were the driving forces behind organic growth.”
BlackRock is the issuer of the iShares Bitcoin Trust (IBIT), the world’s largest spot Bitcoin ETF. Dune reports that IBIT has a 35.2% market share among all US Bitcoin ETFs and contains over $19.4 billion in Bitcoin BTC.
The buying and selling behaviors of asset management titans and ETF issuers such as BlackRock, which possess substantial purchasing power, can have a substantial impact on the price of Bitcoin.
During the second quarter of 2024, investors acquired $83 billion in BlackRock ETF shares, bringing the year-to-date total to over $150 billion.
The asset manager experienced an 11% increase in operating income and an 8% increase in revenue year over year.
Fink attributes a portion of BlackRock’s expansion to its “enduring partnerships with governments and corporations.”
Fink penned the following, “These relationships set BlackRock apart as a capital partner in private markets, generating distinctive deal flow for customers. We are in the process of enhancing our private markets infrastructure to provide our clients with even more benefits of scale and technology, and we have robust sourcing capabilities.”
In the interim, spot Bitcoin ETF inflows have begun to increase after three consecutive weeks of outflows, which has facilitated Bitcoin’s recovery above the $60,000 threshold.
According to Dune data, the US spot Bitcoin ETFs posted their second consecutive week of net positive inflows, with a total of over $414 million.
According to Farside Investors data, BlackRock experienced the most significant inflows of all ETF issuers on July 12, accumulating more than $120 million in investment.
Last week, Bitcoin had its fifth-biggest weekly inflow ever, reaching over $1.35 billion. In contrast, short Bitcoin-related financial instruments saw their biggest weekly outflows since April 2024, amounting to more than $8.6 million.
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