The largest asset manager in the world, BlackRock, has announced a great performance in the second quarter, with assets under management (AUM) growing to an astounding $10.6 trillion according to the company’s report.
As compared to the previous year, this is an almost 13% jump. In addition, earnings per share (EPS) increased over this period, going from $9.06 to $9.99, while revenue increased by 8% to reach $4.8 billion.
Exchange-traded funds (ETFs) led the charge with $83 billion in inflows with the company recording a total net inflow of $81.57 billion, which is a modest increase from the $80.16 billion recorded in the previous year.
With its iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF), BlackRock has strengthened its position in the cryptocurrency market by becoming the largest public holder of bitcoin. The ETF currently has more than 316,276 BTC, which exemplifies the company’s strategic focus on digital assets in the context of larger market dynamics.
Bitcoin had a market worth of $1.24 trillion and was trading at $62,644 at the time this article was started. As of right now, the level of Bitcoin trading during the day is at its highest point in the last two weeks.
