BlackRock said that its spot-focused digital assets funds saw net inflows in the fifth quarter in a row, though the value of these assets fell by 9% due to the fall in the prices of Bitcoin and Ethereum, according to the latest report. Earnings release.
The release states that as of the end of the third quarter in March, the world’s biggest asset manager had $50.3 billion in ETF digital assets. That is about $5 billion lower than it was in the prior quarter.
Still, among asset managers, BlackRock Stayed The iShares is the market leader for inflows Bitcoin Trust ETF (IBIT), iShares Ethereum Trust ETFs (ETHA), respectively adding $2.7 and $548 millions in inflows during the quarter. BlackRock products received $3.1 billion in total, which is about 3%. According to NASDAQ, BlackRock has listed 463 of its products on the U.S. Stock Market. Stock Analysis.
According to Crypto Data Provider, BlackRock’s Bitcoin ETF spot had almost three times more AUM than the Grayscale Bitcoin Trust ETF on Friday. The two funds totaled $45 billion each and $15,2 billion respectively. CoinGlass. BlackRock’s Ethereum ETF, with an AUM below $3.46 billion, is smaller than Grayscale Ethereum Trust ETF, which has an AUM less than $1.8 billion. However, the Grayscale Ethereum Trust ETF was converted from an existing fund, and it’s lost over $4.1 billion in value since the ETF debuted.
In spite of this, BlackRock crypto products were not as popular in the first three months due to a generally risk-off atmosphere. BlackRock’s crypto-ETFs attracted $30 billion in net flows over the past year, or an average of around $7 billion per quarter. IBIT is credited with a net increase of $39 billion, since it was launched in January 2024.
Bitcoin’s price fell by 12% during the first three months of the year, the lowest since the second half of 2017. Ethereum’s prices fell by 45% in the first quarter, its biggest drop since Q2 2020. However, BlackRock crypto ETFs continue to attract investors.
Anchorage Digital was chosen by BlackRock after it first turned to Coinbase for the custody of its ETFs. BlackRock The Digital Asset Trust Bank was mentioned in filings that were made this past week as an option for protecting digital assets.
James Rubin is the editor
