Larry Fink stays bullish as one BlackRock unit sheds nearly 40%

Institutional adoption is failing to save crypto. Despite clients pouring $15.1 billion of new money into BlackRock’s digital products, the firm’s crypto AUM still plummeted 39% in a year. Market crashes wiped out every dollar of new investment three times over. Even worse, digital assets now represent 0% of BlackRock’s total AUM and a measly 1% of fee revenue. If the world’s largest asset manager can’t make the math work, is crypto just a rounding error destined to fail? What’s your take?
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