The value of digital assets managed by BlackRock rose to $79.6 billion in the third quarter. This increase was largely driven by the recovery in cryptocurrency prices.
BlackRock, one of the world’s largest asset management companies, recorded a strong recovery in its cryptocurrency funds in the third quarter of the year. The total value of digital assets under the company’s management increased from $48.8 billion at the end of June to $79.6 billion at the end of September.
This figure indicates approximately 63% growth over the three-month period. However, the increase was not entirely due to new investor inflows. According to BlackRock data, of the total $30.8 billion increase, $22.9 billion came from the appreciation in cryptocurrency prices.
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