BlackRock Inc. (NYSE: BLK) is the largest asset manager in the world, with $9.42 trillion in assets under management (AUM) as of June 30, 2023. It was funded in 1988 and had an Initial Public Offering (IPO) in September 1999.
Interestingly, BlackRock stock’s initial offering was at $14 per share on the New York Stock Exchange (NYSE) and the investment company was managing $165 billion in assets by the end of 1999.
It was in 2009 that BlackRock became the largest asset manager in the world — a title that is kept as of the time of publication, with BLK changing hands by $636.10 per share.
BlackRock (NYSE: BLK) stock historical chart. Source: TradingView
BlackRock: From ESG to Bitcoin mining and Bitcoin spot ETF
BlackRock Inc., as an investment company, has sought to position itself as an industry leader in environmental, social, and corporate governance (ESG). Its largest AUM funds have also been deployed to acquire company shares worldwide with governance rights.
In this context, BlackRock is known to be a major shareholder in the most relevant companies in the stock market from multiple regions and sectors.
Particularly, BlackRock was also spotted as one major shareholder in 4 of the 5 largest Bitcoin miners, with the following consolidated position:
RIOT: 10,749,369 shares (6.14%), for a total value of $199.08 million;MARA: 10,938,032 shares (6.44%), for a total value of $190 million;CIFR: 2,200,654 shares (0.88%), for a total value of $8.36 million;WULF: 4,831,312 shares (2.28%), for a total value of $14.10 million.Moreover, the company’s exchange-traded funds (ETFs) branch, iShares, recently requested to launch its own Bitcoin spot ETF in the United States. The SEC has delayed its response, and Blackrock’s request is still waiting for the U.S. authority’s approval.
