BlackRock Crypto ETFs See 63% Asset Growth as Recovery Falls Short of Highs

BlackRock’s crypto assets under management jumped 63% in the third quarter to $79.6 billion, supported by recovering cryptocurrency prices and renewed investor demand. Despite the rebound, the total remains 23% below its level a year earlier, indicating that the market recovery has not fully reversed previous losses.

The asset manager’s digital asset business gained momentum between July and September after a challenging first half of 2026. Investors returned to its crypto products, helping reverse earlier withdrawals, while rising token prices increased the value of its holdings.

BlackRock reported $79.6 billion in digital assets under management at the end of September, up from $48.8 billion at the end of June, according to its third-quarter earnings report released Wednesday.

Net inflows reached $7.9 billion during the quarter, offsetting the approximately $2.2 billion investors withdrew from its digital asset products during the first six months of the year.

The turnaround followed a recovery in cryptocurrency markets. Bitcoin (BTC) and other digital assets came under pressure during the first half of 2026, reducing the value of investment funds holding them. As prices improved in the third quarter, BlackRock’s portfolio valuations rose, supported by renewed capital inflows.

Market appreciation was the biggest contributor to the increase. Of the $30.8 billion growth in BlackRock’s digital asset holdings during the quarter, $22.9 billion came from higher market prices, while $7.9 billion resulted from net investor inflows.

However, the company’s crypto assets remain below the nearly $104 billion recorded a year earlier, leaving them approximately 23% short of that benchmark.

The decline has occurred despite continued investor interest. Over the past 12 months, BlackRock’s digital asset products attracted $6.3 billion in net new investments. Nevertheless, falling market valuations erased $30.6 billion from the value of those holdings over the same period, more than offsetting the inflows.

The figures highlight the extent to which BlackRock’s crypto business remains exposed to price movements in the underlying digital assets, even as investors continue allocating capital to its funds.

BlackRock, the manager of the iShares Bitcoin Trust (IBIT), generated $39 million in quarterly revenue from fees and securities lending tied to its digital asset products.

The company did not disclose separate assets-under-management figures or investment flows for its Bitcoin fund in the earnings release.