BlackRock's iShares ETFs have experienced a record quarter, fueled by surging demand for Bitcoin and Ether exposure among institutional investors. The world's largest asset manager, BlackRock, has seen substantial inflows into its digital asset ETFs, solidifying its dominance in the crypto investment space.
The iShares platform, which includes over 1,400 ETFs globally, reported a record $205 billion in total net inflows during the third quarter. This surge in investment propelled a 10% increase in organic base fee growth for the quarter and an 8% growth over the past year, according to BlackRock Chairman and CEO Larry Fink.
BlackRock's digital asset ETFs accounted for $17 billion of the total net inflows during the quarter, bringing the year-to-date total to $34 billion. As of September 2025, total crypto assets under management (AUM) reached nearly $104 billion, representing approximately 1% of BlackRock's overall assets.
The iShares Bitcoin Trust (IBIT) has been a major success, generating $25 million more in fees than BlackRock's second-most profitable ETF and approaching $100 billion in net assets by early October. IBIT was among the first spot Bitcoin ETFs approved by the U.S. Securities and Exchange Commission (SEC) in early 2024. In just 21 months since its launch, IBIT has become BlackRock's most profitable ETF ever, generating nearly $245 million in annual fees. It has amassed $98.5 billion in assets, outpacing long-standing giants like IWF and EFA to dominate the global ETF landscape. IBIT's assets are on track to hit the $100 billion milestone about five times faster than any other ETF in history. As of October 9, 2025, IBIT surpassed 800,000 BTC in assets under management.
The cryptocurrency's rise has been aided by Bitcoin's surge to an all-time high, crossing above $125,000 over the weekend. The cryptocurrency has soared more than 70% in the wake of Donald Trump's November electoral win after the president campaigned on greater crypto acceptance.
BlackRock introduced the iShares Ethereum Trust (ETHA), a spot Ethereum ETF, later in 2024. After a slow start, ETHA gained momentum in 2025, becoming the third-fastest fund to reach $10 billion in assets. However, ETHA saw $310 million net outflows on Monday, marking its second-worst performance since its debut. Despite the sell-off, the BlackRock iShares Ethereum Trust continues to lead all ETH-based ETFs by a wide margin.
Overall, BlackRock's strong inflows contributed to a robust quarter, with total AUM reaching $13.46 trillion, a 17% increase from the previous year. Both earnings and revenue surpassed analysts' expectations for the period. BlackRock's Q3 2025 EPS of $11.55 exceeded forecasts by 2.12%. Revenue grew 25% year-over-year to $6.51 billion.
The surge in crypto ETF inflows highlights BlackRock's market leadership and the growing institutional interest in digital assets. BlackRock's iShares ETFs delivered a record intake, helping drive 10% annualized organic base fee growth in the quarter. CEO Laurence Fink highlighted momentum in digital assets, private markets, and ETF demand.
