BlackRock’s crypto funds had a much better third quarter than first half of the year but they still have a long way to go to recover the assets lost during the broader crypto market downturn.
The asset manager reported $79.6 billion in digital assets under management at the end of September, a 63% jump from $48.8 billion at the end of June, according to its third-quarter earnings report released Wednesday.
Investors added $7.9 billion to BlackRock’s digital asset products during the quarter, more than making up for the roughly $2.2 billion they withdrew during the first six months of 2026.
The reversal came as crypto markets recovered from a slump earlier this year. Bitcoin and other cryptocurrencies had faced pressure during the first half of the year, weighing on the value of funds that hold them. The third-quarter recovery gave those funds a lift, while renewed investor demand added to their assets.
Rising crypto prices did most of the heavy lifting. Of the $30.8 billion BlackRock added in digital assets during the quarter, $22.9 billion came from market gains, while investors contributed another $7.9 billion.