BlackRock surpasses $10.6T record AUM boosted by ETF inflows

BlackRock

has reached a record of over $10.6 trillion worth of assets under management (AUM), securing a $1.2 trillion year-over-year growth.

The world’s largest asset manager said that surpassing the $10 trillion mark was partly attributed to the growing inflows into exchange-traded funds (ETFs).

According to Larry Fink, CEO of BlackRock, the firm’s ETFs received record inflows at the beginning of 2024.

Fink wrote in the asset manager’s quarterly earnings report:

“Organic growth was driven by private markets, retail active fixed income, and surging flows into our ETFs, which had their best start to a year on record.”

BlackRock is the issuer of the world’s largest spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), which holds over $19.4 billion worth of Bitcoin and has a leading 35.2% market share among all US Bitcoin ETFs, according to Dune.

Due to their substantial purchasing power, the buying and selling behaviors of asset management giants and ETF issuers such as BlackRock can significantly influence Bitcoin’s price.

ETF inflows boost BlackRock’s AUM

Investors bought $83 billion worth of BlackRock ETF shares during the second quarter of 2024, pushing this year’s total to over $150 billion year-to-date.

The asset manager recorded an 8% revenue increase year-over-year and an 11% increase in operating income.

Fink attributes part of BlackRock’s growth to its “longstanding relationships with corporates and governments.”

“These relationships differentiate BlackRock as a capital partner in private markets, driving unique deal flow for clients. We have strong sourcing capabilities, and we are transforming our private markets platform to bring even more benefits of scale and technology to our clients.”

Bitcoin ETF inflows turn positive

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.