BlackRock Expands Onchain Finance Efforts, Exploring Asset Tokenization
BlackRock is intensifying its efforts to integrate traditional finance with blockchain technology by exploring tokenization to enhance market efficiency and accessibility.
- CEO Larry Fink indicated upcoming announcements about BlackRock's role in asset tokenization and digitization.
- The digital asset market, currently over $4.5 trillion, is expected to grow significantly in the coming years.
- BlackRock pioneered spot-based bitcoin and ether ETFs in the U.S., managing $93 billion and $17 billion respectively.
- The firm manages the largest tokenized money market fund, the $2.8 billion USD Institutional Digital Liquidity Fund (BUIDL), across Ethereum, Solana, and Avalanche blockchains.
- BlackRock led a $47 million fundraising round for Securitize, emphasizing its commitment to tokenization.
- Assets under management increased to $13.4 trillion from $11.4 trillion last year, with $61 million revenue from digital asset products.
- BlackRock shares rose by 1.5% during Tuesday morning trading.