BlackRock-backed firm records shocking revenue growth
SoFi Technologies (Nasdaq: SOFI), the financial services company, released its financial results for the second quarter of 2025 on July 29.
The company's adjusted net revenue for Q2 grew 44% to a record $858 million. Its net income came to $97.2 million, and its adjusted earnings per share (EPS) came to $0.08.
The company also announced plans to launch blockchain-enabled global money transfers and a return to crypto investing.
SoFi CEO Anthony Noto said, “We accelerated adjusted net revenue growth to 44% year-over-year, the highest level in over two years, driven by record high new members, as well as new products, and an increase in fee-based revenue."
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BlackRock (NYSE: BLK), the world's largest asset manager which offers spot Bitcoin ETFs, owns more than $1 billion worth of SOFI shares.
However, it is the world's second-largest asset manager, The Vanguard Group, which is the largest SoFi shareholder. Vanguard owns $2.2 billion worth of SoFi shares.
The fund manager is also the largest institutional shareholder in Michael Saylor's Strategy (MSTR). Strategy is the world's largest public corporate holder of Bitcoin, holding 628,791 BTC worth more than $74 billion.
Unlike BlackRock, Vanguard is skeptical of crypto but is offering indirect crypto exposure through its holdings in companies like SoFi Technologies and Strategy.
The SOFI stock closed at $22.40 on July 29, a jump of 6.5% in a day.