BlackRock's Crypto Assets Plunge 39% Despite $15B ETF Inflows
BLK sits 18% above its 52-week low of $917.39.
Summary
BlackRock's Q2 earnings reveal a sharp 39% decline in crypto assets to $48.8B, driven by $45.8B in market depreciation that overwhelmed $15.1B in spot Bitcoin and Ethereum ETF inflows. The crypto weakness contrasts with record firmwide AUM of $15.3T and $192B in total net inflows. Management disclosed a target of $500M in annual crypto revenue by 2030, a tenfold increase from the current $40M, signaling long-term commitment despite near-term volatility. This follows the broader Q2 beat reported earlier today, adding granularity on the crypto segment's drag. Bitcoin fell 14% and Ethereum 25% during the quarter, directly impacting the iShares Bitcoin Trust, the largest U.S. spot Bitcoin ETF.
At the time of this announcement, BLK was trading at $1,083.60 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $166.7B. The 52-week trading range was $917.39 to $1,219.94. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: CryptoProwl.