BlackRock's Bitcoin, Ethereum Holdings Value Sees 39% Decrease Despite ETF Inflow Boom

BlackRock reported that the market value of its digital asset products fell 39% year over year to $48.8 billion, even as it attracted $15.1 billion in crypto-related net inflows. The decline was driven by $45.8 billion in market losses as Bitcoin fell 14% and Ethereum dropped 25% in the second quarter, more than offsetting new money. Despite the crypto drag, BlackRock delivered a strong broader quarter with $15.3 trillion in assets under management and $192 billion in net inflows, alongside adjusted EPS of $13.91 on $7.08 billion in revenue. The company remains bullish on long-term crypto growth, targeting $500 million in annual crypto revenue by 2030 and expanding products like its Bitcoin income ETF.