What You Need to Know
- The BlackRock U.S. Carbon Transition Readiness ETF (LCTU) pulled in $1.25 billion in assets.
- Its international counterpart attracted about $250 million.
- BlackRock's CEO, Larry Fink, says its clients believe the
BlackRock launched two actively managed sustainable equity ETFs on Thursday which together attracted more than $1.5 billion in assets, primarily from global institutions such as pension funds.
The BlackRock U.S. Carbon Transition Readiness ETF (LCTU) pulled in $1.25 billion in assets, more than any other ETF debut in history. Its international counterpart, the BlackRock World ex U.S. Carbon Transition Readiness ETF (LCTD) attracted about $250 million.
“The energy transition is central to all companies’ growth,” BlackRock chairman and CEO Larry Fink said in a statement. “Many of our clients share their conviction, and we are helping them be at the forefront of the energy transition through next-generation climate analysts and sustainable strategies.”