As a seasoned researcher with years of experience observing the financial markets, I find BlackRock’s impressive growth over the past quarter nothing short of astonishing. The surge in its asset under management (AUM) to an unprecedented $11.5 trillion is a testament to the company’s strategic moves and investor confidence.
During the third quarter of the year, BlackRock, the world’s biggest asset manager, witnessed a tremendous increase of approximately $160 billion in assets under management (AUM). This growth brings their current AUM to an astounding $11.5 trillion, setting a new record.
As per a current Bloomberg analysis, there has been significant interest from investors in BlackRock’s exchange-traded fund (ETF) range, notably including a Bitcoin ETF and the iShares Bitcoin Trust ETF (IBIT). Over $97 billion was invested into these specific funds.
Moreover, there was an inflow of $63 billion into fixed-income investments, pushing the company’s year-to-date inflows to a massive $360 billion. This figure exceeds the total net flows the company experienced in both 2022 and 2023.
This year to date, BlackRock has attracted an astounding $360 billion in new investments, outstripping its total net inflows for both 2022 and 2023. Moreover, by acquiring Global Infrastructure Partners for a whopping $12.5 billion, BlackRock has strengthened its reputation as a comprehensive investment destination.
The deal added $116 billion in private market assets to BlackRock’s portfolio, which has also seen strong demand for cash management and money-market funds, attracting $61 billion in net flows during the quarter.
The company’s expansion can be attributed to a beneficial market climate, marked by a spike in stocks, rising investor curiosity towards fixed-income and private funds. The remarkable ascent of the S&P 500 Index this year and anticipation for a more lenient Federal Reserve interest rate increase have played significant roles in fostering this optimistic momentum.
In simpler terms, BlackRock’s earnings per share increased by 5% to reach $11.46, while their total revenue jumped up by 15%, amounting to $5.2 billion.
The Bitcoin ETF leading the market, as per CoinGlass statistics, manages approximately $17.2 billion in assets, significantly surpassing its nearest rivals – Grayscale’s GBTC and Fidelity’s FBTC – which hold $13.1 billion and $9.9 billion in assets under management respectively.
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2024-10-12 02:00