BlackRock, the world’s largest asset manager with $11.6 trillion in assets under management, reported $84 billion in total net inflows in the first quarter of 2025, marking a 3% annualized growth in assets under management.
The firm’s strong performance was led by a record first quarter for iShares exchange-traded funds (ETFs) alongside continued strength in private markets and net inflows, according to BlackRock’s Q1 earnings released on April 11.
Of the $107 billion in net inflows to iShares ETFs, $3 billion, or 2.8% of the total ETF inflows, was directed to digital asset products in Q1, BlackRock said.
BlackRock’s net flow data in Q1 2025 (in billions of US dollars). Source: BlackRock
Alternative investments also played a significant role in Q1, with private market inflows totaling $9.3 billion.
Digital assets remain small segment
As of March 31, 2025, digital assets accounted for $34 million in base fees or less than 1% of BlackRock’s long-term revenue.
By the end of the first quarter, BlackRock’s total digital assets under management amounted to $50.3 billion, which represents about 0.5% of the firm’s $11.6 trillion in total assets under management.
BlackRock’s business results in Q1 2025 (in millions of US dollars). Source: BlackRock
BlackRock’s financial results suggest that digital assets still make up a modest share of the company’s business.
Despite the modest share, BlackRock’s $3 billion in digital asset inflows is notable given widespread liquidations in the Bitcoin ETF market earlier this year. The company’s figures suggest that investor interest in crypto-backed ETFs remains steady.
This is a developing story, and further information will be added as it becomes available.