BlackRock closed the second quarter of 2026 with a record $15.34 trillion in assets, yet crypto was the clear outlier. Digital asset products shed $3.1 billion, while ETFs, fixed income, and private markets all attracted new money.

The gap is easy to measure. BlackRock’s digital asset holdings fell nearly 20% over the past three months to $48.8 billion, while the firm’s total assets grew 10% over the same period.

iShares Pushed BlackRock’s Record AUM Higher

The world’s largest asset manager reported $7.08 billion in revenue on July 15, up 31% from a year earlier. Adjusted earnings of $13.91 per share topped analyst estimates of about $12.57, and its 45.9% adjusted operating margin was the best in almost five years, according to the release.

Clients added $192 billion in net inflows during the quarter. ETFs did most of the heavy lifting with $177.9 billion, lifting iShares assets above $6.2 trillion, roughly double their size three years ago.

The pace stands out even by BlackRock’s standards. Bloomberg’s Lisa Abramowicz noted that the firm has added nearly $5 trillion in assets over about 2 years.

Chairman and CEO Larry Fink credited the breadth of the business.

“The quality and breadth of our platform is differentiating us with clients more than ever before. It’s enabling us to earn more of their portfolios, and power durable earnings for our shareholders.”

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Crypto Shrinks 20% While Everything Else Grows

BlackRock entered April holding $60.7 billion in digital assets. Three months later, the figure stood at $48.8 billion. Client withdrawals explain $3.1 billion of the drop, and falling prices erased another $8.7 billion.

The longer arc is harsher. Digital asset AUM has fallen 39% from $79.6 billion a year ago. Clients added $15.1 billion over that period, but $45.8 billion in market losses swallowed the new money, and flows turned negative in 2026.

The unit also earns little for its size. Digital assets generated $40 million in base fees during the quarter, less than 1% of BlackRock’s $5.7 billion fee haul.

The retreat mirrors wider market pressure. US spot Bitcoin (BTC) ETFs posted their worst month on record in June, bleeding $4.5 billion as Bitcoin fell more than 20%.

The funds briefly snapped the outflow streak in early July, but daily Bitcoin ETF outflows hit $430 million this week.

Meanwhile, BTC price data shows the asset near $64,756, up 2% in 24 hours but 49% below its October 2025 peak of $126,080. The slump reverses the 2025 story, when the iShares Bitcoin Trust helped fuel Fink’s biggest payday as CEO.

For now, the record quarter proves BlackRock’s growth engine runs far beyond crypto. The third quarter will show whether digital assets rejoin that engine or keep trailing the rest of the platform.

Источник: BeInCrypto