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BlackRock digital asset funds drop 39% despite $15.1B net inflows

Digital asset products shed $45.8B in market value over the past year, outweighing inflows and turning $3.1B of Q2 net outflows.

Reported · Written up by our desk · Market Structure

BlackRock’s digital asset products fell to $48.8 billion at the end of the second quarter from $79.6 billion a year earlier, a decline of nearly 39%, even as the firm recorded $15.1 billion in net inflows over the past 12 months, according to CoinDesk’s review of BlackRock’s filing and earnings materials.

CoinDesk reports that the drop reflected $45.8 billion in market depreciation that more than offset new investor money. The decline continued in the second quarter, when digital asset products logged $3.1 billion of net outflows.

In the same period, CoinDesk noted that broader market weakness weighed on key holdings, with bitcoin and ether unable to reverse earlier-year losses. The largest crypto asset fell more than 14% in the quarter, while ether declined 25% over the same period.

The results contrasted with BlackRock’s overall growth, where the asset manager posted record firmwide assets under management of $15.3 trillion after attracting $192 billion in net inflows during the quarter, and it beat Wall Street earnings expectations with adjusted earnings per share of $13.91 on $7.08 billion in revenue, CoinDesk reported. BlackRock also said in its 2030 plan it is targeting $500 million in annual revenue from the digital asset business.

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