This surge made digital assets one of the fastest-growing areas within the firm, accounting for 16.5% of total ETF inflows […]
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This surge made digital assets one of the fastest-growing areas within the firm, accounting for 16.5% of total ETF inflows during the quarter.
Despite this crypto momentum, BlackRock’s overall ETF inflows dropped to $68 billion, down from $84 billion in Q1. The firm cited a single institutional client’s $52 billion partial redemption as the main reason for the decline.
Revenue from digital asset products rose to $40 million, still just 1% of BlackRock’s base fees, but the growth rate suggests the category could soon play a larger role in its long-term strategy.
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CEO Larry Fink pointed to a wave of new investors driven by products like IBIT — BlackRock’s spot Bitcoin ETF — and emphasized that digital assets are helping the company tap into a more global and younger client base.
Crypto funds across the market also saw increased inflows in Q2, buoyed by a 25% rise in Bitcoin’s price and growing confidence in regulated investment vehicles.
The post BlackRock Crypto ETF Inflows Skyrocket Amid Broader Decline appeared first on Coindoo.
Source: https://coindoo.com/blackrock-crypto-etf-inflows-skyrocket-amid-broader-decline/
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Benson Toti