BlackRock Achieves Record $10.6 Trillion AUM Driven by ETF Inflows

BlackRock achieves record AUM of over $10.6 trillion driven by inflows into ETFs

BlackRock Achieves Record– BlackRock has achieved a new milestone, managing over $10.6 trillion in assets, marking a $1.2 trillion increase from the previous year.

The firm attributes its surpassing of the $10 trillion mark in part to the growing inflows into exchange-traded funds (ETFs).

Larry Fink, CEO of BlackRock, noted that their ETFs saw record inflows at the start of 2024. BlackRock is behind the world’s largest spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), which holds more than $19.4 billion worth of Bitcoin and commands a leading 35.2% market share among all US Bitcoin ETFs, according to Dune Analytics.

Given their significant market influence, the trading activities of major asset managers and ETF issuers like BlackRock can have a substantial impact on Bitcoin’s price.

BlackRock Sees Strong ETF Demand, Reports $83 Billion in Q2 Purchases

Investors purchased $83 billion worth of BlackRock ETF shares in Q2 2024, driving this year’s total to over $150 billion so far. The asset manager saw an 8% increase in revenue and an 11% rise in operating income compared to the previous year. CEO Larry Fink credits BlackRock’s growth partly to its enduring partnerships with corporations and governments.

Bitcoin ETF Inflows Revive, Pushing Price Above $60,000

Meanwhile, spot Bitcoin ETF inflows have turned positive after three consecutive weeks of outflows, helping Bitcoin’s price recover above the $60,000 mark.

The US spot Bitcoin ETFs recorded their second consecutive week of net positive inflows, totaling over $414 million, according to Dune data. BlackRock saw the largest inflows among all ETF issuers on July 12, amassing over $120 million worth of investment, according to Farside Investors data.

Last week, Bitcoin experienced its fifth-largest weekly inflow on record, amounting to over $1.35 billion, while short Bitcoin-related investment products experienced their largest weekly outflows since April 2024, totaling over $8.6 million.

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