BlackRock (BLK), the world's largest asset manager, announced that its assets under management (AUM) exceeded $10 trillion in the second quarter. According to the statement made by BlackRock, the company's total assets increased by approximately 13% compared to the previous year and reached 10.6 trillion dollars.
BlackRock's Assets Under Management Reached Over $10 Trillion
In addition to this impressive growth in total asset size, BlackRock reported an increase in earnings per share (EPS) from $9.06 to $9.99 in the year-ago period. The company's revenues also increased significantly, rising 7.7% to $4.8 billion.
BlackRock has also solidified its position as the largest publicly traded Bitcoin holder through its iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF), which now holds more than 300,000 BTC.
This reflects the growing acceptance and integration of cryptocurrency in traditional financial markets, positioning BlackRock at the forefront of institutional Bitcoin investment.
BlackRock Inc. It is an American global investment management company based in New York. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager as of 2024.
BlackRock operates globally with 70 offices in 30 countries and customers in 100 countries. Because of its power and the size and scope of its financial assets and activities, BlackRock has been called the world's largest shadow bank.
As of 2023, the CEO of the company is Larry Fink, who is also one of the founding partners.
*This is not investment advice.