BlackRock AUM Tops $10T amid Bitcoin ETF Boost
The post BlackRock AUM Tops $10T amid Bitcoin ETF Boost appeared on BitcoinEthereumNews.com.
Coinspeaker BlackRock AUM Tops $10T amid Bitcoin ETF Boost Within just six months of listing spot Bitcoin ETFs, investment asset management firm BlackRock Inc (NYSE: BLK) has seen a massive turnover in its balance sheet. By this ETF move, BlackRock has sustained its stance as the world’s largest asset manager position. The firm boasts of having up to $10 trillion in Assets Under Management (AUM). According to BlackRock, it achieved this feat in Q2 2024. BlackRock Holds More Bitcoin Than MicroStrategy Its AUM saw a surge of almost 13% from the year-earlier period to $10.6 trillion. In a published statement, BlackRock noted that its Earnings Per Share (EPS) moved from $9.06 to $9.99. The company’s revenue increased 7.7% to $4.8 billion. BlackRock’s iShares Bitcoin Trust (IBIT) which received approval from the United States Securities and Exchange Commission on January 11 contributed significantly to making the firm the largest public holder of Bitcoin. For a very long time, Michael Saylor’s MicroStrategy Inc (NASDAQ: MSTR) held this position with a consistent Bitcoin accumulation strategy. Its last acquisition of an additional 11,931 BTC for $786 million brought the business intelligence and software firm’s Bitcoin holding to a total of 226,331 units. With a record of more than 300,000 BTC, BlackRock has successfully beaten MicroStrategy to the position of largest BTC holder. Several institutions have gained exposure to Bitcoin through BlackRock’s IBIT. One example is Iowa-based investment manager City State Bank which invested in BlackRock and Grayscale’s Bitcoin ETFs. City State Bank’s 13F filing dated July 8, 2024, shows that the institution acquired 33 units of the BlackRock IBIT and 50 units of GBTC. On its own, the traction that IBIT has garnered helped it to outshine GBTC significantly in terms of inflows. BlackRock’s BUIDL Nears $500M in AUM Meanwhile, BlackRock’s IBIT is not…
Filed under: News - @ July 16, 2024 12:24 am