BlackRock’s record breaking $60 billion crypto ETFs made just $42 million in Q1 fees

BlackRock’s digital assets franchise crossed a threshold in the first quarter, proving to Wall Street that it is a genuine fee line for the world’s largest asset manager. The firm’s digital asset products generated $42 million in investment advisory, administration fees, and securities lending revenue during the quarter. By almost every measure of its weight inside BlackRock’s economics, the number is relatively smal…