Deep Tide TechFlow news: On July 16, CoinDesk reported that BlackRock’s digital asset fund fell to $48.8 billion by the end of Q2, down from $79.6 billion a year earlier—an approximately 39% decline. Although it saw $15.1 billion in net inflows over the past 12 months, a $45.8 billion market drawdown fully offset the new capital, highlighting the strong link between its crypto ETF business and the prices of digital assets.

In Q2, the business recorded net outflows of $3.1 billion. In its financial report, BlackRock said its goal is to generate $500M in annual revenue from its digital asset business by 2030, and that the business currently contributes only about $40 million in base fees, accounting for less than 1% of the company’s total fee income.