BlackRock iShares Bitcoin Trust Shines as AUM Hits $10 Trillion Valuation.

BlackRock total assets under management have topped $10 trillion.

BlackRock, a leading asset manager, has

hit a major milestone as its total valuation now stands at $10.6 trillion. The

achievement places BlackRock on a new

pedestal as the first asset manager to

reach that peak.

BlackRock witnesses record growth in 2024.

Per Eric Balchunas, Bloomberg senior ETF analyst, BlackRock has set a new all- time world record in the broader cryptocurrency ecosystem. The asset management firm was able to attain the level based on a notable growth pattern from its 2024, first half, performance.

Notably, BlackRock has grown by about $600 billion this year alone, boosted by its iShares Bitcoin Trust (IBIT). This staggering growth was mostly due to markets going up and from flows on the market.

In April, BlackRock stayed in the green for over 71 days as it maintained a streak of inflows, while other asset managers witnessed outflows intermittently. The consistency inflows admitted BlackRock into an elite club of ETFs, with over 70 days of uninterrupted growth.

Interestingly, BlackRock was able to attain this milestone in record time. According to the data, BlackRock shattered the record to become the fastest ETF to reach $10 billion in assets under management. It surpassed the gold ETF way back in March.

Institutional investors boosting BlackRock's growth.

Currently, BlackRock has more assets under management than Fidelity, CapGroup, Invesco and Franklin combined. Notably, BlackRock now holds over 300,000 Bitcoin.

Interestingly, the game plan of BlackRock in introducing IBIT to leverage the growing demand for Bitcoin among institutional investors has now paid off. According to analysts, Blackrock's offering of a viable platform for investment attracted a lot of investors into the space.