The figures contrast with BlackRock’s broader business, which posted record assets under management (AUM) of $15.3 trillion after attracting $192 billion in net inflows during the quarter. The company also beat Wall Street expectations with adjusted earnings per share of $13.91 on $7.08 billion in revenue.

BLK shares traded 4.15% higher at £1,068 in pre-market trading Wednesday.

BlackRock’s crypto target

BlackRock is targeting $500 million in annual revenue from the business under its 2030 plan, the firm said in its earnings call.

This would represent an increase of more than tenfold, compared to the $40 million BlackRock currently generates in base fees and securities lending, accounting for less than 1% of the firm’s total fee…