- $50 billion worth of crypto assets by the year 2030.
- Major inflows were led by iShares ETFs, which currently constitute more than 665K BTC and 1.5M ETH.
- Bitcoin is failing to gain above crucial resistance levels despite the institutional growth.
The largest asset manager in the world, BlackRock, which controls $11.5 trillion in assets under management, is speeding up its entry into the cryptocurrency space. The company has announced a new strategic goal of increasing its crypto assets under management (AUM) to more than $50 billion by 2030.
The action is set to position BlackRock as the world’s largest manager of cryptocurrency assets within the next five years. The announcement comes as the company continues to expand its involvement in digital assets, with institutional inflows increasing on its Bitcoin and Ethereum exchange-traded funds (ETFs). The inflows have fueled its bigger crypto ambitions, from a wider token exposure to deeper institutional adoption in digital markets.
Institutional Flows Accelerate as BlackRock Expands Exposure
As of today, BlackRock’s cryptocurrency funds are witnessing tremendous inflows, with a majority flowing into Ethereum and Bitcoin ETFs. According to data on Lookonchain, Bitcoin and Ethereum ETFs witnessed massive inflows, with BlackRock’s iShares taking the lead. In 10 Bitcoin ETFs, total net inflows were 3,880 BTC ($425.66M). iShares (BlackRock) took in 3,067 BTC ($336.49M), now holding 665,638 BTC worth $73.03B.
Similarly, 9 Ethereum ETFs had net inflows of 43,340 ETH valued at $121.27M. iShares was once again the leader with 29,056 ETH valued at $81.3M for a total of 1,555,807 ETH valued at $4.35B. The report signifies growing institutional trust, spearheaded by BlackRock in crypto ETF growth.
Institutional Interest Grows, but Bitcoin Struggles to Regain Momentum
Bitcoin is struggling under pressure despite BlackRock increasing its presence in crypto space. At press time, BTC trades at $107,056, down 2.0% in the last 24 hours. The price is still fighting to gain momentum over the $108,800 to $112,000 resistance area. Although the support at $107,052 is holding, the market has not resumed the recent highs.
BlackRock’s $50 billion crypto aspiration is part of a broader strategy to be a digital asset management leader by 2030. The company’s growing interest is a milestone for traditional finance, with plans to open up access, expand token coverage, and build out its presence across the crypto ecosystem. However, despite these institutional developments, Bitcoin’s near-term price action remains indifferent.
