BlackRock’s Crypto Division Takes a Hit | Bitcoin and Crypto News

BlackRock’s crypto business took a brutal hit despite fresh investor cash, as its digital asset funds plunged 39% in value — from $79.6 billion to $48.8 billion — driven by market depreciation that wiped out $45.8 billion in crypto holdings. Even with $15.1 billion in new inflows over the past year, the firm saw $3.1 billion in outflows during Q2, mirroring the broader crypto slump, with Bitcoin and Ether down 14% and 25% respectively. Yet BlackRock’s overall performance soared, hitting a record $15.3 trillion in AUM and smashing earnings targets. Looking ahead, they’re targeting $500 million in annual crypto revenue by 2030, eyeing the 5 billion crypto wallets as a gateway to become a native digital asset manager. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/dc3439b0e11fa0f1