BlackRock reaches $11.5 trillion in AUM, launches Bitcoin ETF, signaling potential future bets

From Investing.com
October 11, 2024 3:30:21 pm:

American multinational investment giant BlackRock has reached a $11.5 trillion Asset Under Management (AUM) milestone, with $2.4 trillion increase year-over-year driven by net inflows of $456 billion and positive market movements.

BlackRock launched its spot Bitcoin ETF, marking a major shift for the traditionally conservative firm, with CEO Larry Fink now advocating for the digital currency. The firm’s plans for its iShares Bitcoin Trust product remain unclear despite its success.

In addition to its Bitcoin ETF, BlackRock is fully invested in iShares ETH Trust, maintaining its lead among issuers despite the generally poorer performance of Ethereum ETF products.

BlackRock’s AUM increase suggests that Bitcoin and Ethereum played a significant role in reaching this milestone, hinting at potential future plans for the firm.

With 369,640.1483 BTC in custody, BlackRock continues to buy the dip as one of the largest corporate holders of Bitcoin, indicating possible increased bets in the future with its enhanced capital reserves.

Despite BlackRock’s proactive stance on Bitcoin, some rivals like Vanguard have publicly declared that they will not engage with Bitcoin or crypto in general, showing differing approaches in the investment landscape.

Read more at Investing.com: BlackRock Tops $11.5 Trillion in AUM, More Bitcoin Bets Ahead? By U.Today