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Home/Markets & Investing/BLACKROCK · RIPPLE XRP SEC

BlackRock's Fee Mix Shift Protects Earnings from AUM Decline

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Oscar Aldridge

BlackRock · Apr 14, 2026

BlackRock's Fee Mix Shift Protects Earnings from AUM Decline

Source: DojiDoji Data Terminal

BlackRock's adjusted earnings per share for the first quarter of 2026 reached $12.53, exceeding the $11.48 consensus estimate. This profit growth occurred despite a sequential decline in assets under management, which slipped to $13.89 trillion from a record $14.04 trillion at the end of 2025. Market declines reduced the value of client portfolios even as the firm attracted $130 billion in total net inflows.

Related Brief4h ago
exchange traded funds

Goldman Sachs Enters the Bitcoin ETF Market with an Income-Generating Strategy

Investors in the Goldman Sachs Bitcoin Premium Income ETF will receive income generated from the selling of call options on Bitcoin exposure. Goldman Sachs filed with the SEC on April 14 for the fund, marking the first time the Wall Street bank has issued its own crypto fund. The fund will invest at least 80% of net assets in BTC-exposed instruments, primarily shares of existing spot Bitcoin exchange-traded products. To generate this income, Goldman plans to sell call options covering between 40% and 100% of the fund's Bitcoin exposure. This shift follows a period where Goldman Sachs spent two years buying other firms' Bitcoin ETFs, holding approximately $2.05 billion in Bitcoin and Ethereum ETFs as of the end of 2024, with its largest positions in BlackRock's and Fidelity's funds. The fund's income is the result of the premiums collected from the buyers of those call options.

Revenue climbed 27% year-over-year to $6.698 billion, driven by a shift toward higher-margin revenue streams. Investment advisory performance fees jumped from $60 million to $272 million year-over-year. Private markets assets totaled $320.4 billion, contributing 16% of the firm's total base fees despite representing a fraction of total AUM.

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real estate

Mortgage Rate Hikes Push Existing Home Sales to a Nine-Month Low

First-time purchasers face persistent affordability challenges. Mortgage rates rose in recent weeks amid inflation concerns and geopolitical tensions that pushed energy prices higher. This shift kept potential buyers on the sidelines. The National Association of Realtors reported existing-home sales fell 3.6% in March to a seasonally adjusted annual rate of 3.98 million units. This is the slowest pace in nine months. Sales are 1% lower than a year ago. The median existing-home price reached a record high for March. This price support is driven by limited supply, as housing inventory remains below historical norms despite a 3.0% increase from February to 1.36 million units. The median existing-home price rose 1.4% year-over-year to $408,800.

This revenue diversification is the result of strategic acquisitions of Global Infrastructure Partners and HPS Investment Partners. CEO Larry Fink described the firm's integrated model across public markets, private markets, and technology as a strengthening of its competitive position. The iShares Bitcoin Trust ended the quarter with $54 billion in assets under management.

Related Brief5h ago
cryptocurrency

Changpeng Zhao's memoir documents the regulatory cost of rapid crypto expansion

Changpeng Zhao served a four-month sentence in a United States federal prison. The sentence followed a period of rapid expansion where Zhao entered multiple jurisdictions simultaneously while global rules around digital assets were still evolving. This speed created regulatory vulnerability. Zhao documents these events in his memoir, Freedom of Money, published 8 April 2026.

Despite the flow data, private markets experienced a $2 billion mark-to-market drop and $8.5 billion in capital returns, offsetting $9.1 billion in inflows. Total AUM remains the basis on which future fees are earned, and adjusted EPS grew despite the decline in total AUM.

Related Brief1d ago
cryptocurrency

US Institutional Demand Drives $1.1 Billion Crypto Inflow

US investors drove $1.06 billion in inflows into crypto investment products last week, accounting for 95% of the global total. This surge was driven by regulated Bitcoin and Ethereum ETFs and favorable domestic economic signals. Total weekly inflows reached $1.1 billion, the largest since early January 2026. Total assets under management rebounded to levels last seen in early February. Bitcoin dominated the activity, capturing $871 million in inflows. Ethereum followed with $196.5 million. Short-Bitcoin investment products recorded $20.2 million in inflows, the highest weekly figure since November 2024.

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