BlackRock Crypto ETF Assets Rise 63%, Still 23% Below a Year Ago

BlackRock's digital asset products ended September with $79.6 billion in assets, up 63% from $48.8 billion at the end of June, per the firm's third-quarter earnings release. They held $103.97 billion a year earlier, so the quarter reversed a two-quarter slide without recovering the September 2025 level.

Where the $30.8 Billion Came From

Digital assets opened the third quarter at $48.8 billion, took $7.9 billion of net inflows, gained $22.9 billion from market moves and closed at $79.6 billion on September 30, according to the release's quarter-on-quarter AUM table. Average assets for the quarter were $63.6 billion, against the $79.6 billion close.

The nine-month table shows $5.7 billion of net inflows through September. Strip out the third quarter's $7.9 billion and the first two quarters ran about $2.2 billion of net outflows, after the book fell from $78.4 billion on December 31 to $48.8 billion by June 30.

For scale, BlackRock reported $205.5 billion of total net flows in the quarter and $15.49 trillion of total assets under management. Digital assets were a little over 0.5% of that total.

A Year Ago the Same Products Held $104 Billion

The release's year-over-year table keeps the 63% in proportion. Digital assets stood at $103.97 billion on September 30, 2025. Over the twelve months to September 30, 2026, they took $6.3 billion of net inflows and lost $30.6 billion to market change, ending at $79.6 billion, 23% below the prior-year figure.

Market value did most of the work in both directions: $30.6 billion of decline across the year, then $22.9 billion of gain in a single quarter.

Fees, and the Detail the Release Leaves Out

BlackRock's digital assets line produced $39 million in base fees and securities lending revenue in the quarter. The release's revenue table puts "Digital assets, commodities and multi-asset ETFs" at $164 million for the quarter, up $24 million from $140 million a year earlier, a line that mixes crypto with commodities and multi-asset funds and does not isolate digital assets alone.

The release also reports digital assets as a single number. It gives no fund-level asset or flow figures, so how the $79.6 billion splits across BlackRock's individual crypto products is not available from these documents.

The quarter's gain rests mostly on prices. Investors added $7.9 billion; market value added $22.9 billion. Over the past twelve months, market value has taken back far more than flows brought in.