How Blackrock is making profits during COVID-19.

Blackrock, the world's largest asset holding company [$7.3 trillion], reported a 21% increase in revenue. Although it was not easy for financial institutions to withstand the economic recession from COVID-19 and low interest rates, Blackrock seemed to be different. The Fed's purchase of Black Rock ETFs with no commission fees did not help the company itself, Black Rock earned profits in two ways.

1. Revenue from sales of software called Aladdin [Aladdin's financial risk measurement software]

2. Changing Black Rock's Asset Strategy [Focusing on the U.S. Market for Rapid Asset Recovery]
It also focused on active asset management, rather than concentrating only on index ETFs.

 Wall Street Journal says BlackRock is watching for scalability from asset management to software technology sector.

Source : BlackRock’s Profit Jumps 21% as Investors Surge Into Bond Funds
https://www.wsj.com/articles/blackrocks-profit-jumps-on-bond-etf-activity-11594982592