BlackRock’s assets hit record $13.5tn as ETF inflows top $5tn

BlackRock’s assets under management surged to a record $13.5 trillion in Q3, driven by strong inflows into its iShares ETFs and a rebound in global markets. The firm attracted $205 billion in new client capital between July and September, marking the first time its ETF platform surpassed $5 trillion in assets.

Source Financial Times 

While net profits fell 19% to $1.3 billion due to acquisition-related expenses, revenues jumped 25% year-on-year to $6.5 billion. CEO Larry Fink highlighted that base fee growth of 10% exceeded expectations, citing the firm’s strong organic expansion and its $30 billion acquisition spree across private investment firms, including GIP and HPS Investment Partners.

Fink told analysts that BlackRock is entering “a new era” where the lines between public and private markets blur, creating opportunities for deeper investor partnerships. The firm also reported $34 billion flowing into cash strategies and $17 billion into digital assets — with its iShares Bitcoin ETF now a core part of BlackRock’s long-term growth strategy.