BlackRock Hits $13.4T AUM — Larry Fink Says Digital Wallets Hold the Next $4 Trillion Opportunity

Core Insights - BlackRock's assets under management reached $13.46 trillion in Q3 2025, up from $11.48 trillion a year earlier, indicating a rapid integration of traditional finance with digital assets [1][2][4] - CEO Larry Fink emphasized the potential of tokenizing traditional investment products, which could attract new investors to the crypto market, marking a significant opportunity for BlackRock [2][3] - The firm's iShares Bitcoin Trust (IBIT) has become the top-earning ETF, generating $244.5 million annually, with assets nearing $100 billion in under 450 days, showcasing the growing institutional interest in Bitcoin ETFs [6] Financial Performance - BlackRock reported long-term net inflows of $171 billion, with revenue rising to $6.5 billion, reflecting an 8% increase in organic base fees [4] - Total expenses increased to $4.6 billion, while private-market inflows reached $13.2 billion and retail inflows rose to $9.7 billion [4] - Technology revenue surged by 28% to $515 million, driven by the Aladdin system, which is increasingly utilized for managing tokenized portfolios [5] Market Trends - Digital-asset exposure in BlackRock's funds has tripled since 2024, indicating a significant rise in demand for Bitcoin ETFs and tokenization initiatives [3] - Fink compared the role of crypto to that of gold, highlighting its function as an alternative store of value amid growing institutional demand [3] - Bitcoin ETFs are projected to attract $30 billion this quarter, reflecting Wall Street's increasing control over crypto liquidity [6]