Business
BlackRock’s Milestone: $10 Trillion AUM and Bitcoin Holdings
Discover the latest financial milestone achieved by BlackRock with a staggering $10 trillion in Assets Under Management (AUM) and their notable holdings in Bitcoin. Stay informed on the investment giant’s impact on the market.
BlackRock Hits $10 Trillion in Assets Under Management
The renowned asset manager BlackRock (BLK) announced a significant milestone as its assets under management (AUM) surpassed $10 trillion during the second quarter. The AUM experienced a notable increase of almost 13% compared to the previous year, reaching $10.6 trillion. Concurrently, the company reported a rise in earnings per share (EPS) from $9.06 to $9.99. Moreover, BlackRock’s revenue saw a 7.7% growth, amounting to $4.8 billion.
BlackRock’s Bitcoin Holdings and Performance
BlackRock has garnered attention for being the largest public holder of bitcoin, primarily attributable to its iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF). The IBIT now boasts a holding of over 300,000 BTC. This strategic investment has further solidified BlackRock’s position in the cryptocurrency market.
Market Response to BlackRock’s Performance
Following the announcement, BlackRock’s shares surged by 1.2% to $838 in pre-market trading, reflecting investor confidence in the company’s robust financial performance and strategic investment decisions.