BlackRock's iShares exchange-traded funds (ETFs) have helped the asset management company achieve strong quarterly earnings and revenue, highlighting the continued momentum of its cryptocurrency-related products, with institutional demand accelerating.
According to the company's quarterly financial report, the iShares platform, which includes over 1,400 ETFs globally, attracted a record $205 billion in net inflows during the third quarter. Chairman and CEO Larry Fink stated in a statement that these inflows drove a 10% growth in organic base fees for the quarter, as well as an 8% growth over the past 12 months.
Fink reiterated that BlackRock is "always preparing for the future," emphasizing the ongoing product supply in emerging areas such as technology, data analytics, and digital assets.
The company's digital asset ETFs recorded $17 billion in net inflows during the quarter, bringing the total for the year to date to $34 billion. As of September, the total assets under management (AUM) in cryptocurrency approached $104 billion, accounting for about 1% of BlackRock's overall assets.
These results come against the backdrop of the groundbreaking success of the iShares Bitcoin Trust (IBIT), which generated $25 million more in fees than BlackRock's second most profitable ETF and approached $100 billion in net assets in early October.
IBIT is one of the first spot Bitcoin (BTC) ETFs approved by the U.S. Securities and Exchange Commission (SEC) in early 2024.
Later that year, BlackRock launched the iShares Ethereum Trust (ETHA) — a spot Ethereum ETF, which gained attention in 2025 after a slow start, becoming the third fastest fund to reach $10 billion in assets.
Overall, the strong inflows have led to robust quarterly performance for BlackRock, with the company reporting total AUM of $13.46 trillion, a 17% increase from a year ago. Both earnings and revenue exceeded analysts' expectations for the period.
The surge in cryptocurrency ETF inflows not only underscores BlackRock's market leadership but also reflects the growing institutional interest in digital assets.
In terms of Bitcoin, according to industry data, BlackRock's IBIT remains the largest Bitcoin ETF to date, holding over 800,000 BTC.
Institutions are increasingly favoring ETFs due to their regulatory transparency, custodial protections, and simplified accounting processes, allowing direct exposure to digital assets without the complexities of self-custody.
These ETFs have been a major driver of Bitcoin's sustained rise since early 2024, recently hitting a historic high of over $126,000 earlier this month.
Some of the momentum may also reflect "devaluation trades," as investors seek a safe haven from the dollar's worst decline in fifty years amid expanding fiscal deficits, trade uncertainties, and ongoing inflation.
As Cointelegraph recently reported, the correlation between Bitcoin and gold has strengthened, indicating that more investors view BTC as a store of value and an inflation hedge alongside traditional safe-haven assets.
Related: Analysts say: The $19 billion crypto market crash is a "controlled deleveraging," not a chain reaction collapse.
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