BlackRock Achieves Record $10.5T Managed Assets in Q1

BlackRock, a major investor in Bitcoin (BTC), has reported another successful quarter of income and managed assets. The company’s Q1 2024 financial results show that it now has a record $10.5 trillion in assets under management (AUM), a $1.4 trillion increase from the previous year. BlackRock’s diluted earnings per share (EPS) also saw a significant surge, from $7.9 million in Q1 2023 to $9.81 million in Q1 2024. This growth can be attributed to higher non-operating income and a lower effective tax rate in the current quarter.

The company’s net income has also increased from $1.2 billion last year to approximately $1.5 billion. BlackRock’s success can be attributed to handling $76 billion of quarterly long-term net inflows, which accounts for almost 40% of the total for the entire year of 2023. BlackRock CEO Larry Fink expressed optimism about the company’s growth potential, particularly in infrastructure, technology, retirement, and whole portfolio solutions. Fink stated that clients are turning to BlackRock to maximize their portfolios, resulting in industry-leading total net inflows of $236 billion over the past twelve months.

In addition to its investments in various sectors, BlackRock is also a major player in the cryptocurrency industry. The company operates one of the largest Bitcoin exchange-traded funds called the spot iShares Bitcoin Trust (IBIT). As of April 10, IBIT holds 266,580 BTC, equivalent to $18.5 billion. The fund started trading in January 2024.

BlackRock’s impressive financial results and growing assets under management reflect its increasing momentum as it continues to attract clients and secure significant wealth, institutional, and Aladdin mandates. The company’s strategic positioning in sectors such as infrastructure, technology, and retirement bodes well for its future growth. Its presence in the cryptocurrency market through the iShares Bitcoin Trust demonstrates BlackRock’s commitment to diversifying its offerings and capturing opportunities in digital assets.

Hanan Escamilla

Hanan Escamilla

3 thoughts on “BlackRock Achieves Record $10.5T Managed Assets in Q1

  1. Why is BlackRock so focused on maximizing portfolios instead of addressing the larger issues in our society?

  2. BlackRock’s dominance in the market is concerning. It’s unhealthy for one company to have so much control.

  3. It’s frustrating to see BlackRock’s increasing wealth when they could be using their resources to make a real difference in the world.

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