BlackRock (BLK): ETF Industry Growth Just Getting Started

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July 19, 2017 12:57pm NYSE:BLK

NYSE:BLK | News, Ratings, and Charts

The world’s largest asset manager — and its largest ETF issuer — believes that the ETFs are still in their very early innings of growth, with massive inflows still ahead for the relatively new industry.

BlackRock, Inc. (NYSE:BLK) CEO Larry Fink made the bullish comments following his company’s solid earnings results earlier this week. CNBC has the details:

“We’re seeing more utilization across the board in more products,” Fink told analysts on a conference call after the firm reported second-quarter earnings Monday morning. “We have much more opportunities for ETFs to grow not just in equities but in fixed income. I believe this is just the beginning.”

BlackRock is the biggest player in the burgeoning ETF industry, with assets in its iShares family crossing $1.5 trillion in the past quarter. The firm manages nearly $5.7 trillion for clients.

In fact, BlackRock has nearly double the ETF assets under management (AUM) than the next closest issuer, Vanguard, which boasts around $745 billion, according to data. State Street is in third place with around $542 million, and PowerShares is a distant fourth at $129 billion.

Impressively, the ETF industry had only $992 million in assets back in 2010. In the seven years since, it’s grown to over $2.8 trillion. BlackRock owns more than half of that total, and shows no signs of letting up anytime soon.

BlackRock, Inc. (NYSE:BLK) was trading at $425.80 per share on Wednesday afternoon, down $1.08 (-0.25%). Year-to-date, BLK has gained 13.29%, versus a 11.32% rise in the benchmark S&P 500 index during the same period.

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