Key Takeaways
- Larry Fink’s 2025 pay rose 23%, alongside BlackRock’s record $14 trillion AUM.
- Once a crypto skeptic, Fink has become a leading advocate, launching the record-breaking iShares Bitcoin Trust ETF.
- BlackRock’s IBIT became the fastest-growing ETF ever, helping bring crypto into mainstream institutional portfolios.
BlackRock CEO Larry Fink earned $37.7 million in 2025, a 23% jump from $30.8 million the year before, as the world’s largest asset manager hit record highs, fueled in part by its rapid expansion into crypto.
It’s a notable shift for someone who once dismissed Bitcoin outright. Today, crypto has become a meaningful and fast-growing part of BlackRock’s business.
Fink’s Pay Rise Tracks BlackRock’s Crypto Push
Fink’s compensation increase closely mirrors BlackRock’s performance.
The firm’s assets under management (AUM) climbed to a record $14 trillion by the end of 2025, supported by $698 billion in net inflows.
A growing share of that momentum comes from digital assets.
Over the past two years, BlackRock’s crypto-linked AUM has surged toward $150 billion.
Spot Bitcoin ETFs alone have attracted tens of billions in inflows, helping diversify revenue and boost profitability.
Fink’s 2025 pay package included:
The equity component, up $6.5 million year over year, reflects strong shareholder returns and the firm’s expansion into high-growth areas like crypto.
A key turning point came in January 2024 with the launch of the iShares Bitcoin Trust (IBIT).
The product quickly became one of the most successful ETF launches in history, offering investors regulated exposure to Bitcoin through traditional brokerage accounts.
From Skeptic to Bitcoin Advocate
Fink’s stance on crypto has changed dramatically over time.
In 2017, he described Bitcoin as “an index of money laundering,” echoing broader skepticism across Wall Street.
But by 2024, his tone had shifted. He began referring to Bitcoin as “digital gold” and a legitimate asset that could offer diversification and protection against economic uncertainty.
That shift wasn’t just rhetorical. BlackRock played a central role in bringing crypto into institutional portfolios.
For pensions, endowments, and wealth managers that previously avoided direct exposure due to custody and regulatory concerns, IBIT provided a familiar and compliant entry point.
The impact was immediate.
IBIT became the fastest-growing ETF in history, reaching $70 billion in AUM in just 341 days, far surpassing the previous record held by SPDR Gold Shares (GLD).
It later crossed $80 billion in 374 days, setting multiple new benchmarks.
Even during a volatile 2025 for Bitcoin, IBIT remained one of the top ETFs globally by inflows. It attracted more than $25 billion, despite negative returns for the asset itself.
As of early 2026, the fund manages roughly $52–55 billion and generates an estimated $250 million in annual fees.
Crypto Becomes Core to BlackRock’s Growth
BlackRock’s crypto business now extends well beyond ETFs.
Tokenized products like the BUIDL fund and broader digital asset initiatives are becoming meaningful contributors to revenue.
Projections point to $500 million in annual crypto-related income within the next five years.
Digital asset ETFs alone brought in $35 billion in net flows in 2025, helping push total firm AUM to new highs.
The link between that growth and Fink’s compensation is straightforward.
Higher AUM drives management fees, stronger performance lifts stock-based pay, and expansion into new markets signals strategic leadership.
More broadly, BlackRock’s crypto push has helped redefine how institutions approach digital assets.
By offering secure, liquid, and regulated products, the firm has moved crypto from the margins into the core of modern portfolio construction.
What started as skepticism has turned into a key pillar of BlackRock’s growth strategy, with tokenization and digital assets now firmly embedded in its long-term roadmap.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
