BlackRock AUM hits record $15.3T, but crypto assets fall 20%

Global asset management giant BlackRock saw its assets under management (AUM) reach a record $15.34 trillion at the end of the second quarter, BeInCrypto reported. However, its digital asset division was the only business segment to experience a decline, shrinking by approximately 20% from the previous quarter. The firm's operating profit margin for the second quarter hit a five-year high of 45.9%, with net client inflows totaling $192 billion during the same period. In contrast, the AUM for the digital asset segment dropped from $60.7 billion to $48.8 billion. This reduction was driven by an $8.7 billion valuation loss resulting from the decline in cryptocurrency prices. Compared to the same period last year, the digital asset AUM has fallen by about 39% from $79.6 billion.