Assessing BlackRock (BLK) Valuation As Harvard Shifts Crypto Exposure Toward Ethereum ETFs

Simply Wall St

Tue, February 17, 2026 at 12:13 PM GMT+9 3 min read

In this article:

BLK

+1.50%

ETH-USD

+1.99%

BTC-USD

+0.59%

Find your next quality investment with Simply Wall St’s easy and powerful screener, trusted by over 7 million individual investors worldwide.

Harvard Management Company’s latest filing shows a clear shift inside BlackRock (BLK) linked crypto products, with a reduced position in its bitcoin ETF and a sizable new allocation to the firm’s Ethereum focused fund.

See our latest analysis for BlackRock.

BlackRock’s crypto pivot is landing at a time when its shares trade at US$1,071.51, with a 1 day share price return of 1.50% but a 30 day share price return showing a 7.88% decline, while a 1 year total shareholder return of 12.28% and 3 year total shareholder return of 60.84% point to stronger longer term momentum.

If this crypto news has caught your attention, it could be a good moment to look beyond one asset manager and scan the wider digital assets space with our 16 cryptocurrency and blockchain stocks.

With BlackRock shares sitting at US$1,071.51 and trading at roughly a 24% discount to the average analyst price target, the real question is whether this reflects mispricing or whether the market already anticipates future growth.

Most Popular Narrative: 19.3% Undervalued

Compared with the narrative fair value of about $1,328, BlackRock’s last close at $1,071.51 sits well below what that framework considers reasonable.

BlackRock’s expansion into private markets through acquisitions like HPS Investment Partners, GIP, and ElmTree positions the company to capitalize on the secular shift of institutional assets into alternatives and infrastructure, driving higher-fee revenue streams and long-term earnings growth.

Read the complete narrative.

Want to see what sits behind that gap between price and fair value? The narrative leans heavily on compounding revenues, steady margins, and a premium earnings multiple. Curious how those pieces fit together over time?

Result: Fair Value of $1,328.44 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, the story could change quickly if fee compression worsens or if the push into private markets and technology brings higher costs without the expected payoff.

Find out about the key risks to this BlackRock narrative.

Another View: Rich P/E Puts The Brakes On The “Undervalued” Story

That 19.3% gap to the narrative fair value leans on future earnings power, but the current P/E of 29.9x tells a different story. It sits well above the estimated fair ratio of 19.8x and above the 23.1x industry and 25.3x peer averages, which points to higher valuation risk instead of a clear bargain. So which signal do you trust more: the cash flow narrative or the earnings multiple staring you in the face?

Story Continues  

See what the numbers say about this price — find out in our valuation breakdown.

NYSE:BLK P/E Ratio as at Feb 2026

Build Your Own BlackRock Narrative

If you see the numbers differently or prefer to explore the data yourself, you can create a personalised BlackRock story in minutes using Do it your way.

A great starting point for your BlackRock research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.

Ready For More Investment Ideas?

If you stop with just one stock, you miss the bigger picture. Let the screener surface fresh ideas so you can compare and act with confidence.

Target higher quality opportunities first by scanning our 54 high quality undervalued stocks that pair solid fundamentals with appealing pricing.

Strengthen your core holdings by reviewing companies in the solid balance sheet and fundamentals stocks screener (44 results) that focus on resilience and financial discipline.

Get ahead of the crowd by checking the screener containing 24 high quality undiscovered gems, where under the radar ideas might deserve a spot on your watchlist.

_ This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned._

Companies discussed in this article include BLK.

Have feedback on this article? Concerned about the content? Get in touch with us directly._ Alternatively, email editorial-team@simplywallst.com_

Terms and Privacy Policy

Privacy Dashboard

More Info