Assets managed by BlackRock expanded to a record $10.5 trillion on the back of soaring equity markets and the winning of a net $57 billion of customer inflows, including — for the first time — investments in bitcoin.
The world’s biggest fund manager reported a 36 per cent increase in net profits to $1.57 billion for the three months to March.
The $1.4 trillion, or 15 per cent, increase in client assets compared with a year ago was built mainly on rising markets. Net inflows in the quarter were only $57.2 billion, just over half the level recorded in the corresponding quarter of 2023.
Inflows were boosted by purchases of BlackRock’s bitcoin exchange-traded fund, which was launched in January after the US Securities and Exchange