BlackRock CEO Fink Highlights Start of Asset Tokenization Movement

Key Highlights:

BlackRock CEO Larry Fink emphasized the start of asset tokenization, coinciding with the firm's Bitcoin ETF reaching $100 billion in assets.
The strategic focus is on digitizing $4.1 trillion in traditional financial products through tokenization, including ETFs.
Recent Ethereum ETF movements showed significant outflows, with BlackRock's ETHA fund contributing to these changes:

Oct. 13: Ethereum ETFs experienced $428.5 million in net outflows; BlackRock's contribution was $19.1 million.
Oct. 10: BlackRock withdrew $80 million from ETHA amidst $114 million increased on-chain Ethereum staking deposits.
BlackRock manages $17.25 billion in digital asset ETFs, primarily using Coinbase Prime for custodial operations.
Tokenization initiatives align with broader institutional adoption trends, including 24/7 trading access to tokenized securities.

Bitcoin Market Update:

Bitcoin traded at $113,242, maintaining support above $110,217 despite short-term bearish pressures.
Immediate resistance for Bitcoin is at $114,716, with mixed technical signals across various timeframes.
The broader weekly trend remains strong, with Bitcoin trading 74% above the 200-week moving average.

BTC/USDT 1H Chart | Source: TradingView