BlackRock’s cryptocurrency assets rebounded sharply in the third quarter, increasing 63% to $79.6 billion as investors resumed buying its digital asset products. However, the total remains 23% below the level recorded a year earlier, highlighting the lingering effects of the crypto market downturn.
The asset manager’s crypto business performed considerably better between July and September than during the first half of 2026, when investors pulled money from its products and falling token prices reduced portfolio values. Despite the latest recovery, BlackRock has yet to regain all the assets lost during that period.
According to its third-quarter earnings report released Wednesday, BlackRock held $79.6 billion in digital assets at the end of September, compared with $48.8 billion at the end of June.
Net inflows reached $7.9 billion during the quarter, more than offsetting the approximately $2.2 billion withdrawn from its digital asset products during the first six months of the year.
The improvement came as cryptocurrency prices recovered from their earlier decline. Bitcoin (BTC) and other digital assets struggled during the first half of 2026, putting pressure on the value of investment funds holding them. The subsequent market rebound lifted those valuations, while fresh investor allocations provided an additional boost.
Higher asset prices accounted for the majority of BlackRock’s quarterly growth. Of the $30.8 billion increase in its digital asset holdings, $22.9 billion came from market appreciation, while $7.9 billion was attributable to net investor inflows.
Nevertheless, BlackRock’s crypto assets remain well below the nearly $104 billion reported a year earlier, leaving the portfolio approximately 23% short of that level.
Investor demand has remained positive over the longer term. BlackRock’s digital asset products attracted $6.3 billion in net new capital over the past 12 months. However, declining market valuations wiped out $30.6 billion in asset value during the same period, outweighing the additional money invested.
The results demonstrate that BlackRock’s crypto business remains closely tied to cryptocurrency price movements, even as its products continue to attract fresh capital.
The company, which manages the iShares Bitcoin Trust (IBIT), recorded $39 million in quarterly revenue from fees and securities lending tied to its digital asset offerings.
BlackRock’s earnings release did not disclose separate assets-under-management or fund-flow figures for its Bitcoin ETF.
