It’s hard to be a needle mover for $BLK at >$12T. But digital assets have been a story. Combined with active ETFs were biggest piece of organic base fee growth in ‘24. Also nice iShares flywheel
Eric Balchunas
Eric Balchunas30.7.2025
Wild Stat: If bitcoin ETFs didn't exist, $ETHA would be the fastest ETF in history to hit the $10b mark by about 2x. Mind-melting, but that's just how utterly insane the btc ETF launches were (and we cover this sht so much)
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