Investment asset management firm BlackRock has gathered an impressive $10 trillion worth of Assets Under Management (AUM).
BlackRock Inc (NYSE: BLK), an investment asset management firm, has experienced a substantial balance sheet turnover within six months of listing spot Bitcoin ETFs.
BlackRock has maintained its position as the world’s largest asset manager through this ETF transaction. The organization asserts Assets Under Management (AUM) of up to $10 trillion. According to BlackRock, this accomplishment was accomplished in the second quarter of 2024.
BlackRock holds more Bitcoin than MicroStrategy
There was a nearly 13% increase in its AUM from the previous year, reaching $10.6 trillion. BlackRock disclosed in a published statement that its Earnings Per Share (EPS) increased from $9.06 to $9.99. The company’s revenue increased by 7.7% to $4.8 billion. BlackRock’s iShares Bitcoin Trust (IBIT), approved by the United States Securities and Exchange Commission on January 11, played a substantial role in the company’s status as the most significant public holder of Bitcoin.
Michael Saylor’s MicroStrategy Inc (NASDAQ: MSTR) maintained this position for an extended period through a consistent Bitcoin accumulation strategy. The business intelligence and software firm’s Bitcoin holdings have reached 226,331 units following its most recent acquisition of 11,931 BTC for $786 million. BlackRock has surpassed MicroStrategy as the most excellent BTC holder, with a record of over 300,000 BTC.
BlackRock’s IBIT has exposed Bitcoin to numerous institutions. One example is City State Bank, an investment manager based in Iowa, which invested in Bitcoin ETFs from BlackRock and Grayscale. The 13F filing of City State Bank, dated July 8, 2024, indicates that the institution acquired 33 BlackRock IBIT and 50 units of GBTC.
IBIT considerably outpaced GBTC in terms of inflows as a result of the traction it has acquired.
BlackRock’s BUIDL is on the brink of reaching $500 million in assets under management
In the interim, BlackRock’s IBIT is not the sole product that has garnered attention, nor is it the sole factor contributing to the company’s impressive performance. In collaboration with Securitize, the spot Bitcoin ETF issuer introduced its inaugural tokenized fund on a public blockchain four months ago. It was intended to offer qualified investors the chance to earn United States dollar yields by subscribing to the Fund through Securitize Markets, LLC.
BUIDL has been widely accepted and implemented by numerous exchanges. Hidden Road, the premier credit network for institutional crypto trading, announced its intention to begin accepting BlackRock’s BUIDL token, which represents BlackRock’s money market fund, as collateral across its network at the beginning of the second half of this year. The firm’s interest in BUIDL was attributed to its ability to be used for collateral and interest by Michael Higgins, the global director of business development at Hidden Road.
BUIDL’s transition to holding up to $491 million in AUM was inevitable. The tokenization solution is approaching the $500 million milestone. These significant accomplishments have culminated in BlackRock’s aggregate assets under management (AUM) exceeding $10 trillion.
