BlackRock’s Crypto ETF Assets Jump 63% but Stay Below 2025 High

BlackRock’s cryptocurrency assets under management climbed 63% to $79.6 billion in the third quarter as investors returned to its digital asset products. Despite the strong recovery, total holdings remain 23% below the level recorded a year earlier.

The asset manager’s crypto business rebounded significantly in the third quarter following a weaker first half of 2026. However, it has yet to recover the assets lost during the broader cryptocurrency market downturn.

BlackRock reported $79.6 billion in digital assets under management at the end of September, up from $48.8 billion at the end of June, according to its third-quarter earnings report released Wednesday.

Investors poured $7.9 billion into the company’s digital asset products during the quarter, reversing the approximately $2.2 billion in net withdrawals recorded during the first six months of 2026.

The turnaround coincided with a recovery in cryptocurrency markets after prices weakened earlier in the year. Bitcoin (BTC) and other digital assets faced considerable pressure during the first half, reducing the market value of funds holding those assets. Improving prices in the third quarter boosted fund valuations, while renewed investor demand further increased assets under management.

Market appreciation accounted for most of the quarterly increase. Of the $30.8 billion rise in BlackRock’s digital asset holdings, $22.9 billion resulted from market gains, while net investor inflows contributed another $7.9 billion.

Despite the recovery, the firm’s crypto assets remain below their year-earlier level of nearly $104 billion, representing a decline of approximately 23%.

The shortfall does not reflect a lack of investor interest. BlackRock’s digital asset products attracted $6.3 billion in net inflows over the past 12 months. However, falling asset prices reduced their combined market value by $30.6 billion during the same period, more than offsetting those inflows.

The figures highlight how heavily BlackRock’s cryptocurrency business depends on market performance, even as investors continue allocating fresh capital to its products.

BlackRock, the operator of the iShares Bitcoin Trust (IBIT), generated $39 million in quarterly revenue from fees and securities lending associated with its digital asset products.

The earnings report did not break out individual asset figures or investment flows for the company’s Bitcoin fund.