Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTPooja RajkumariWed, July 15, 2026 at 7:23 PM GMT+2 2 min readBlackRock's (NYSE: BLK) crypto business just showed investors what a bear market does to even the biggest player in the game. According to the firm's second-quarter earnings release published July 15, the asset manager's digital assets under management (AUM) fell to $48.8 billion as of June 30. It is down 39% from $79.6 billion a year earlier, even as clients poured $15.1 billion of net new money into its crypto products over the same 12 months.The math is stark because market declines wiped $45.8 billion off BlackRock's digital asset ETFs over the year, swamping every dollar of inflows three times over.Related: BlackRock 'closing in' on $17 billion bitcoin competitorInflows couldn't outrun the crypto winterThe damage tracks the broader market. Bitcoin (BTC) closed the first half of 2026 down roughly 37%, sliding from near $95,000 in January to below $59,000 by the end of June, more than 53% below its October 2025 all-time high of $126,000.And investor behavior has turned. After a year of net buying, BlackRock's digital asset funds bled $3.1 billion in the second quarter alone, on top of falling prices that erased another $8.7 billion. Year-to-date outflows also stand at $2.2 billion.The crypto slump was added to an otherwise blowout report. BlackRock's total assets hit a record $15.3 trillion, second-quarter net inflows reached $192 billion, and revenue jumped 31% year-over-year to $7.1 billion. Digital assets now generate just $40 million in quarterly base fees, about 1% of the firm's fee revenue, and round to 0% of total AUM."I've never been more optimistic about the growth ahead," CEO Larry Fink said in the release.Trending on TheStreet Roundtable