BlackRock's Crypto ETF Assets Rise 63%, but Remain Far Below 2025 Peak

As investors return, the asset manager's crypto holdings rose 63% to $79.6 billion, but remain 23% below last year's level.

BlackRock's crypto funds had a much better third quarter than the first half of the year, but still have a long way to go to recover assets lost during the broader cryptocurrency market downturn.

The asset manager reported $79.6 billion in digital assets under management at the end of September, up 63 percent from $48.8 billion at the end of June, according to a third-quarter earnings report released Wednesday.

Investors added $7.9 billion to BlackRock's digital asset products during the quarter, more than offsetting the roughly $2.2 billion they withdrew in the first half of 2026.

The change came as crypto markets recovered from a slump earlier this year. Bitcoin $83,212.45 Bitcoin and other cryptocurrencies have been under pressure in the first half of the year, putting pressure on the value of the funds that hold them. A third-quarter recovery helped these funds, as renewed investor demand added to their holdings.

Crypto price hikes did most of the heavy lifting. Of the $30.8 billion BlackRock added in digital assets during the quarter, $22.9 billion came from market gains, while investors accounted for another $7.9 billion.

Even after the return, BlackRock's crypto holdings are 23% lower than the roughly $104 billion it managed a year ago.

This gap is not the result of investors abandoning its products. Over the past 12 months, BlackRock's digital asset funds have raised $6.3 billion in net new money. But the decline in the market value of these assets wiped out $30.6 billion in the same period

These figures are a reminder of how dependent BlackRock's crypto business is on the prices of the assets its funds hold, even if investors continue to invest in them.

BlackRock, which runs the iShares Bitcoin Trust (IBIT), earned $39 million in quarterly fees and securities lending income from its digital asset products.

The asset manager did not provide separate asset or flow figures for its bitcoin fund in its earnings release.

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