Recently, BlackRock’s assets under management (AUM) have reached a new high of over $10.6 trillion, which represents a year-over-year increase of $1.2 trillion. One of the factors that has contributed to the success of reaching the $10 trillion mark is the growing amount of money that has been invested in exchange-traded funds (ETFs).
Larry Fink, the Chief Executive Officer of BlackRock, stated that the company’s exchange-traded funds (ETFs) experienced record inflows at the beginning of the year 2024. Fink noted in the quarterly earnings report of the asset management that private markets, retail active fixed income, and rising flows into exchange-traded funds (ETFs) had been the primary drivers of organic growth. ETFs had witnessed their greatest start to a year on record.
According to Dune’s research, BlackRock is the issuer of the iShares Bitcoin Trust (IBIT), which is the largest spot Bitcoin exchange-traded fund (ETF) in the world. It has more than $19.4 billion worth of Bitcoin and manages to retain a leading market share of 35.2% among all Bitcoin ETFs in the United States.
The buying and selling activities of asset management firms and ETF issuers like BlackRock, which have tremendous purchasing power, have the potential to drastically impact the price of Bitcoin.Additionally, during the second quarter of 2024, investors purchased BlackRock ETF shares worth a total of $83 billion, bringing the total amount of shares purchased so far this year to almost $150 billion.
From the previous year to the current year, asset management had an increase in revenue of 8% and an increase in operating income of 11%. The long-standing partnerships that BlackRock has maintained with firms and governments have been credited with contributing to the company’s expansion.
Fink made the observation that these relationships distinguish BlackRock as a capital partner in private markets, hence generating a unique deal flow for clients. Fink brought attention to the existence of robust sourcing capabilities as well as the evolution of the private markets platform in order to provide clients with an increased number of benefits related to size and technology.
While this was going on, spot Bitcoin ETF inflows became positive after three weeks in a row of outflows, which helped Bitcoin’s price return above the $60,000 barrier. According to Dune statistics, bitcoin exchange-traded funds (ETFs) in the United States saw their second consecutive week of net positive inflows, which amounted to more than $414 million. According to data provided by Farside Investors, BlackRock received the most amount of investment on July 12 compared to all other ETF issuers, with over 120 million dollars worth of investment being accumulated.
During the previous week, Bitcoin experienced its fifth-biggest weekly inflow on record, which amounted to more than $1.35 billion. On the other hand, short Bitcoin-related financial instruments experienced their greatest weekly outflows since April 2024, which totaled more than $8.6 million.
Personal Note From MEXC Team
Check out our MEXC trading page and find out what we have to offer! There are also a ton of interesting articles to get you up to speed with the crypto world. Lastly, join our MEXC Creators project and share your opinion about everything crypto! Happy trading! Learn about interoperability now!
Join MEXC and Start Trading Today!
