Quick Breakdown
- Larry Fink says BlackRock will focus on tokenizing traditional assets over the coming decades.
- The asset manager already runs the world’s largest tokenized fund, BUIDL, worth $2.8 billion.
- Fink, once a crypto skeptic, now sees digital assets as key to portfolio diversification.
BlackRock eyes tokenization as the future of finance
BlackRock CEO Larry Fink believes the next major transformation in global finance will come from tokenizing traditional assets such as equities, bonds, and real estate. Speaking on CNBC’s Squawk on the Street on Tuesday, Fink said the company views tokenization as an opportunity to bring new investors into mainstream financial products through digital means.
“If we can tokenize an ETF and digitize it, we can reach investors starting in crypto and guide them toward long-term retirement products,” Fink explained. “This is the next wave of opportunity for BlackRock over the coming decades.”
As the world’s largest asset manager, BlackRock oversees a staggering $13.5 trillion in assets, including $104 billion in crypto-related holdings—around 1% of its portfolio.
Tokenization still in its early stages
Fink noted that while tokenization has vast potential, it’s still in its early development phase. He believes the market for tokenized assets valued at over $2 trillion in 2025—could soar to more than $13 trillion by 2030, according to research from Mordor Intelligence.
BlackRock, he added, is already laying the groundwork for deeper involvement in this sector. Teams across the firm are actively exploring new tokenization strategies to strengthen its leadership in digital asset management.
The company already operates BUIDL (BlackRock USD Institutional Digital Liquidity Fund), the world’s largest tokenized cash market fund, launched in March 2024 and valued at $2.8 billion.
From crypto skeptic to blockchain advocate
Fink’s evolving stance on digital assets marks a notable shift from his earlier criticism. During a recent 60 Minutes interview, he likened crypto to gold, describing it as a viable alternative investment for diversification.
The CEO, who once called Bitcoin an “index of money laundering,” admitted that his perspective has changed over time. “I was a critic before, but I grow and learn,” he told CNBC.
With this shift, BlackRock’s growing focus on blockchain technology and tokenized finance underscores how traditional institutions are increasingly embracing digital transformation in asset management.
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