BlackRock Crypto ETF Inflows Jump 366% in Q2 2025

• BlackRock’s crypto ETF inflows jumped to $14B in Q2, up 366% from Q1
• Crypto now represents 16.5% of all ETF inflows at BlackRock
• Overall firm inflows dropped 19% due to a major institutional redemption

Something major just shifted at BlackRock.

While total inflows at the world’s largest asset manager dropped in Q2 — largely due to a one-off $52B institutional redemption — crypto told a very different story.

According to the latest earnings report, inflows into BlackRock’s iShares crypto ETFs exploded to $14 billion in Q2 2025, marking a +366% jump from the $3 billion seen in Q1. These inflows made up 16.5% of BlackRock’s total ETF intake for the quarter — up from just under 3% previously.

Let that sink in: almost one-sixth of all ETF flows at an $11.5 trillion firm came from crypto. In a quarter where overall net inflows dropped 19%, the digital asset segment roared louder than ever.

This isn't just noise. It’s a structural shift. When crypto ETF exposure becomes a critical part of the world's biggest asset manager’s quarterly numbers, it's a pretty strong signal of where institutional attention is heading.

And while the headline will probably focus on declining overall inflows, under the surface it's crypto that's doing the heavy lifting.