BlackRock’s Crypto Assets Shrink Nearly 39% as Market Prices Fall

Global asset-management giant BlackRock has expanded aggressively into digital assets, with its cryptocurrency-related funds becoming a key barometer of traditional financial flows into the crypto market. As institutional acceptance of crypto assets grows, the performance of BlackRock’s products reflects investors’ confidence in the emerging asset class and provides a crucial gauge of whether traditional capital continues to enter the market.

The latest figures show that BlackRock’s digital-asset funds attracted as much as $15.1 billion in net inflows over the past year, but the gains were overwhelmed by falling cryptocurrency prices. After suffering about $45.8 billion in market losses, assets under management plunged from $79.6 billion to $48.8 billion, a decline of nearly 39%.