BlackRock Projects 6%–7% Base-Fee Growth, Eyes Tokenized iShares Rollout
BlackRock reports normalized organic base-fee growth of 6%–7% after six quarters above its 5%+ target, including 9% in 2025 and double-digit Q3 and Q4 results. It plans tokenized iShares and digital-wallet native asset management within a year, integrates GIP and HPS acquisitions, and targets $400 billion fundraising by 2030.
1. Organic Base-Fee Growth Performance
BlackRock’s normalized organic base-fee growth has held at 6%–7%, marking six consecutive quarters above its 5%+ target. The firm delivered 9% full-year growth in 2025, with Q3 at 10% and Q4 at 12%, driven by breadth across ETFs, private markets and systematic equities.
2. Digital Wallet Distribution Strategy
BlackRock is developing tokenized iShares and broader digital-wallet native asset management capabilities, citing 4.5 billion global digital wallets and 820 million crypto wallets. The firm expects to launch these products within months to a year, embedding investment management, trading and tax services directly in wallet ecosystems.
3. Integration and Fundraising Targets
Near-term priorities include integrating recent acquisitions of Global Infrastructure Partners and HPS Investment Partners to realize synergies and scale offerings. BlackRock aims to raise $400 billion of new capital by 2030 across institutional, wealth and insurance channels.
4. Business Unit Growth Highlights
iShares saw $530 billion of organic asset growth in 2025, while Aladdin ACV expanded 16%. Private markets and alternatives assets reached $676 billion, and wealth solutions continue to shift clients from brokerage to advisory with new alternative portfolios and customized models.