BlackRock, the world’s largest asset manager, has secured net inflows in its digital asset-focused funds for a fifth consecutive quarter. Despite the value of these assets tumbling by 9% due to slumping prices of Bitcoin and Ethereum, BlackRock remains the leader in inflows.
As of March 31, BlackRock held $50.3 billion worth of ETF digital assets, a decrease of about $5 billion compared to the previous quarter. However, among asset managers, BlackRock took the top spot with its iShares Bitcoin Trust ETF (IBIT) and iShares Ethereum Trust ETF (ETHA) adding $2.7 billion and $548 million in inflows, respectively.
BlackRock’s crypto assets now represent about 3% of net flows into the company’s products in Q1. The firm boasts a total of 463 products listed on the US stock market.
The value of BlackRock’s spot Bitcoin ETF nearly tripled that of its rival Grayscale Bitcoin Trust ETF, totaling $45 billion and $15.2 billion, respectively. However, this change came as investors reduced their appetite for crypto assets amid a risk-off environment.
Over the past 12 months, BlackRock’s crypto ETFs generated $30 billion worth of net inflows, averaging around $7.5 billion per quarter. Despite the slump in Bitcoin and Ethereum prices, these products still attracted investments.
Source: https://decrypt.co/314499/blackrock-crypto-asset-holdings-down-5-billion-bitcoin-ethereum-fall