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 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.
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).
