BlackRock Reaches $11.5 Trillion in Assets Under Management
As of October 11, 2024, BlackRock, one of the largest U.S. investment firms, crossed a historic threshold with its assets under management surpassing $11.5 trillion for the first time. This was fueled by a surge in crypto-ETF inflows and a sharp rise in the company’s stock.
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As of October 11, 2024, BlackRock, one of the largest U.S. investment firms, crossed a historic threshold with its assets under management surpassing $11.5 trillion for the first time. This was fueled by a surge in crypto-ETF inflows and a sharp rise in the company's stock.
BlackRock has shown steady momentum throughout 2024: its asset value was $10.47 trillion in Q1, $10.65 trillion in Q2, and reached $11.48 trillion in Q3.
It's important to note that BlackRock leads the industry in crypto ETFs. At the time of writing, its Bitcoin ETF has $21.9 billion in net assets.
By comparison, Grayscale, its closest rival, manages $13.1 billion in its Bitcoin ETF.
Bitcoin ETF Distribution Among Various Funds. Source: sosovalue.com
At the start of October 2024, BlackRock acquired Global Infrastructure Partners (GIP) for $12.5 billion. This acquisition brought in an additional $100 billion of assets that were previously under GIP’s management.
In a similar strategic move, BlackRock has set its sights on acquiring data provider Preqin for $3.2 billion. These two acquisitions are expected to strengthen BlackRock’s role in private equity, giving it more leverage in acquiring non-publicly traded companies.
Adjusted earnings per share at BlackRock increased by 5% year-over-year, reaching $11.46, surpassing analysts’ projections of $10.4.
The company’s stock has climbed around 18% this year, though it still trails the S&P 500, which has grown 21%.
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