## [# BlackRock ETFs Pulled in $83B in 2Q as Markets Rose](/sections/news/blackrock-etfs-pulled-83b-2q-markets-rose)
# BlackRock ETFs Pulled in $83B in 2Q as Markets Rose
Total assets hit a record $10.7 trillion driven by rising equity markets.
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[By Jeff Benjamin](/authors/jeff-benjamin)
Jul 15, 2024
Edited by: Ron Day
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BlackRock Inc., whose iShares unit is the world's biggest ETF issuer, reported that investors poured $83 billion into the firm's exchange-traded funds in the second quarter, a 24% jump from the first quarter, propelled by rising equity markets.
The company, also the world's biggest asset manager, said total assets climbed to $10.7 trillion, as investors turned to risk-on products toward quarter's end. Exchange-traded funds through the year's first half have pulled in $150 billion, the New York-based firm said in a [press release](https://s24.q4cdn.com/856567660/files/doc_financials/2024/Q2/BLK-2Q24-Earning-Release.pdf).
The S&P 500 Index gained 4% during the second quarter, and BlackRock’s equity ETF assets increased to $2.8 trillion from $2.7 trillion at the end of March, while fixed-income funds rose 3% from the first quarter to $931 billion. Market drops cut $7 billion from the fixed income funds, offset by nearly $45 billion flowing in.
“The second quarter didn’t start very strong for the markets, but it ended on a high note and that brought investors who might have been on the sidelines back into the risk-on trade,” said Catherine Seifert, an analyst covering BlackRock at CFRA.
## SPY vs. IVV
BlackRock runs 443 ETFs, ahead of the 86 managed by No. 2 Vanguard Group. BlackRock's biggest, the $508.6 billion [**iShares Core S&P 500 ETF (IVV)**](/ivv), pulled in $15.2 billion during the quarter. That fund is the world's second-biggest ETF behind the [**SPDR S&P 500 ETF Trust (SPY)**](/spy), which had nearly identical outflows—$15.2 billion—during the period.
Globally, the New York-based asset manager’s ETF assets exceeded $3.86 trillion at the end of June, which is up from $3.75 trillion at the end of March. Rising markets were responsible for approximately $32 billion worth of the asset growth.
BlackRock’s alternative asset ETFs increased during the quarter to more than $85 billion, up from $79 billion thanks to a combination of $2 billion worth of market performance and $4 billion worth of net inflows.
BlackRock’s earned an adjusted $10.86, topping the $9.83 Bloomberg estimate. Revenue rose 8% to $4.8 billion, which was at the low end of Seifert’s expectations, but she remains bullish on the stock.
She maintains a “buy” rating on the stock with a 12-month price target of $935 per share, which is about 12% above the current price of $832. BlackRock stock, which is up less than 3% this year, moved up slightly with the broad equity markets in midday trading Monday.
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Jeff Benjamin is the wealth management editor at etf.com, responsible for coverage related to the financial planning industry. This includes writing,… [View Bio](/authors/jeff-benjamin)
Related Topics [iShares](http://www.etf.com/topics/ishares)
[Blackrock](http://www.etf.com/topics/blackrock)
[Vanguard](http://www.etf.com/topics/vanguard)