BlackRock’s Assets Hit Record $13.5 Trillion Amid Global ETF Boom

BlackRock, the world’s largest asset manager, has reported a record-breaking $13.5 trillion in assets under management (AUM) at the end of the third quarter of 2025. The milestone came on the back of explosive growth in exchange-traded funds (ETFs) and strong inflows across both public and private markets, according to the company’s latest financial report.

Despite a 25% increase in revenue, BlackRock’s net income dipped, largely due to acquisition-related expenses. Still, the firm’s overall performance exceeded market expectations and reinforced its dominant position in the global financial landscape.

---

ETF Surge Drives Unprecedented Growth

During the third quarter, BlackRock attracted $205 billion in net new client assets.
The primary engine behind this growth was the firm’s ETF division, iShares, which recorded one of the strongest quarters in its history.

• iShares AUM surpassed $5 trillion
• Cash-management products reached over $1 trillion
• Private-market products also saw rising demand as investors sought yield and diversification

The global appetite for ETFs — driven by their low fees, liquidity, and accessibility — continues to reshape the investment industry, and BlackRock remains at the center of this transformation.

---

Revenue Growth Boosted by Acquisitions and Market Conditions

BlackRock’s total quarterly revenue rose 25.2% year-over-year to $6.51 billion.
This increase was supported by favorable market conditions and contributions from recent acquisitions, including infrastructure investor GIP and alternative investment firm HPS.

Another key contributor was the company’s expanding technology division.

---

Tech Platforms and Data Services Strengthen BlackRock’s Position

Revenues from BlackRock’s technology services — especially its flagship risk-management platform Aladdin — grew to $515 million for the quarter.

This growth was partly supported by the firm’s acquisition of data provider Preqin, further bolstering BlackRock’s capabilities in private-market analytics and institutional data tools.

CEO Laurence Fink emphasized that BlackRock is entering the traditionally strong fourth quarter with “powerful momentum.”

“Our unified platform — built on public and private investment expertise, the Aladdin technology ecosystem, and a shared culture — is uniquely positioned to capture the greatest opportunities across global capital markets,”
— Laurence Fink, Chairman & CEO of BlackRock

---

Earnings: A Mixed Picture, but Market Response Is Positive

While revenue surged, GAAP earnings per share (EPS) fell 23% to $8.43, impacted by non-cash acquisition expenses.
However, adjusted EPS — excluding these one-time charges — increased 1% to $11.55, beating analyst forecasts.

Additional highlights:

• BlackRock repurchased $375 million in stock during the quarter
• Shares of BlackRock are up 12.7% year-to-date

Despite short-term profit pressure, investors appear confident in BlackRock’s long-term strategy, especially as ETFs, private markets, and financial-technology services continue to expand at record pace.