BlackRock reported a reduction of $5 billion in the value of its crypto asset holdings to $50.3 billion as the prices of Bitcoin and Ethereum fell. Despite this decline, the asset manager experienced net inflows of $3.1 billion in its digital asset-focused funds for the fifth consecutive quarter. The iShares Trust ETF for Bitcoin and Ethereum attracted significant inflows, contributing $2.7 billion and $548 million respectively. This indicates that while prices slumped—Bitcoin dropping 12% and Ethereum plummeting 45%—investors continued to show interest in BlackRock’s crypto ETFs. Over the past year, BlackRock's crypto products generated a total of $30 billion in net inflows, averaging around $7.5 billion per quarter. The firm has recently shifted custodians for its crypto ETFs, now utilizing Anchorage Digital in addition to Coinbase. BlackRock has surpassed Grayscale Investments in assets under management for publicly-listed crypto products, marking a significant shift in the landscape of crypto asset management.

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