Blackrock Releases Positive Earnings

Jul 14, 2023 By MarketDepth

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Blackrock (BLK:NASD) is the world largest asset manager and has seen a turnaround in earnings after four quarters of decline. Earnings were up 28% and assets under management rose 2% to $9.19 trillion. This reversal comes after a year of negative results and 19.8% drop in earnings per quarter.

Blackrock filed for a Bitcoin Exchange Traded Fund with the SEC and causing a Bitcoin rally. The SEC is has stated that current applications aren’t sufficient enough to be approved. The process for approval of applications is difficult to navigate with many headwinds ahead.

“I do believe the role of crypto is digitizing gold in many ways. We work really closely with our regulators and we want to hear from our regulators — what are their issues and can we fix those issues around that”

BlackRock CEO Larry Fink