BlackRock Crypto Asset Holdings Down $5 Billion as Bitcoin, Ethereum Prices Fall

BlackRock’s spot digital asset-oriented funds generated a net intake for a fifth consecutive quarter Winstrelease.

From March 31, the world’s largest asset manager had worth $ 50.3 billion in ETF digital assets, according to the release about $ 5 billion less than in the previous quarter.

Still, among asset managers, BlackRock remaining The leader in the inflow with the Ishares Bitcoin Trust ETF (IBIT) and Ishares Ethereum Trust ETF (ETHA) adds $ 2.7 billion and $ 548 million respectively to the inflow into the quarter. The combined $ 3.1 billion represents around 3% of the net flows in BlackRock products in Q1. BlackRock currently has mentioned 463 products on the US stock market, according to Stock analysis.

From Friday, BlackRock’s place Bitcoin ETF had almost three times the AUM of the Grayscale Bitcoin Trust ETF, a total of $ 45 billion and $ 15.2 billion, according to Crypto Data Provider Coinglass. Blackrock’s place Ethereum ETF had an AUM of $ 1.8 billion, less than the Grayscale Ethereum Trust ETF’s $ 3.46 billion footprint, although it is a conversion of an existing fund and has dropped $ 4.1 billion since the ETF debut.

Yet investors had less appetite for BlackRock’s crypto products in the first quarter in the midst of a largely risk-off environment. In the last 12 months, BlackRock’s crypto ETFs generated $ 30 billion in net inflow, on average around $ 7.5 billion per quarter. Since the debut in January 2024, IBIT has added around $ 39 billion to the net entry.

The Bitcoin prize fell by 12% in the first quarter and represented the worst performance of the active since the second quarter of last year. In the meantime, the price of Ethereum collapsed 45%, the biggest dive since Q2 2022), but BlackRock’s crypto ETFs still generated inflow.

BlackRock, which for the first time Tapped Coinbase as a custodian for his crypto ETFs, recently turned to digital anchorage. Black rock made public In the archives earlier this week that it would now lean on the Digital Assets Trust Bank as an extra option for protecting digital assets.

Published by James Rubin