BlackRock’s Crypto ETF Inflows Soar 370% in Q2 2025 Despite Overall Slowdown

BlackRock’s Crypto Exposure Grows as ETF Inflows Surge

BlackRock, the world’s largest asset management firm with $11.5 trillion in assets under management (AUM), saw a remarkable spike in inflows to its crypto-focused iShares ETFs in Q2 2025.

In its latest earnings report published Tuesday, the firm revealed that crypto ETF inflows rose 366% quarter-over-quarter — jumping from $3 billion in Q1 to $14 billion in Q2. These inflows now represent 16.5% of BlackRock’s total ETF flows, a significant leap from just 2.8% in Q1.

BlackRock’s net flow data in Q2 2025 (in billions of US dollars). Source: BlackRock

Related: Cathie Wood: Crypto ETFs Will Stay Strong Despite Wallet Rise

Overall Net Inflows Decline Amid Institutional Redemption

While crypto saw exponential growth, BlackRock’s total Q2 inflows fell 19%, down from $84 billion in Q1 to $68 billion. The company attributed this decline to a $52 billion partial redemption by a single institutional client in a lower-fee index strategy.

Digital Assets: Small Share, Big Growth Potential

Though still a small piece of the puzzle, digital assets generated $40 million in base fees as of June 30 — up 18% from $34 million the previous quarter. They currently account for about 1% of BlackRock’s long-term base fee revenue, according to the report.

“While digital assets currently contribute just 1% of base fees, their rapid growth signals meaningful revenue potential,” the company noted.

BlackRock’s business results in Q2 2025 (in millions of US dollars). Source: BlackRock

BlackRock Targets Global Investors With Digital Offerings

BlackRock CEO Larry Fink highlighted the firm’s expanding reach, noting that iShares ETFs saw record flows in the first half of 2025, and technology annual contract value (ACV) climbed to a new high of 16%.

“We’re attracting a new and increasingly global generation of investors through offerings like digital assets and our recently launched Jio BlackRock funds in India,” Fink said.

What This Means for Crypto Markets

BlackRock’s aggressive push into digital assets — particularly through ETFs — sends a strong signal about growing institutional confidence in cryptocurrencies. While digital assets remain a minor revenue contributor, their trajectory shows promise as a strategic long-term play.

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