TLDR
- Larry Fink says BlackRock will expand its tokenization efforts across multiple asset classes in coming years
- The firm manages $13.5 trillion in assets with $104 billion in crypto holdings representing 1% of portfolio
- BlackRock’s BUIDL tokenized fund has reached $2.8 billion, making it the largest tokenized money market fund
- Fink sees tokenization bridging crypto investors to traditional retirement products through digitized ETFs
- Asset tokenization market expected to grow from $2 trillion today to $13 trillion by 2030
BlackRock CEO Larry Fink revealed plans Tuesday to expand the company’s presence in asset tokenization. During the firm’s quarterly earnings call, Fink said teams across BlackRock are exploring tokenization applications. The goal is to make markets more efficient and accessible.
The announcement comes as BlackRock reported managing $13.5 trillion in total assets. The company holds $104 billion in crypto assets. This represents approximately 1% of its overall portfolio.
Fink told CNBC that tokenization represents the next major opportunity for BlackRock. He said the shift away from traditional financial assets toward digital versions will unfold over the next several decades. The CEO believes this transition will keep investors within the digital ecosystem.
Tokenized ETFs Could Bridge Crypto and Traditional Finance
The BlackRock CEO outlined how tokenized ETFs could serve as a gateway for crypto investors. He explained that digitizing ETFs would allow people who start investing through crypto to access traditional long-term retirement products. This strategy aims to expand the investor base while maintaining their preference for digital assets.
BlackRock already operates in the tokenization space with its BUIDL fund. The BlackRock USD Institutional Digital Liquidity Fund launched in March 2024. It has grown to $2.8 billion in assets, making it the largest tokenized money market fund available.
The BUIDL fund operates across multiple blockchain networks. These include Ethereum, Solana and Avalanche. BlackRock partnered with tokenization specialist Securitize to issue the fund. The asset manager led Securitize’s $47 million funding round in 2024.
Market Growth Projections and Early Stage Development
Fink described asset tokenization as still being in its infancy. He said he believes tokenization will expand across real estate, equities and bonds. The CEO sees room for growth in multiple sectors.
Market research firm Mordor Intelligence values the current asset tokenization market at over $2 trillion in 2025. The firm projects this market will reach over $13 trillion by 2030. Fink stated he expects the overall digital asset market, currently worth $4.5 trillion, to grow substantially.
BlackRock reported $61 million in revenue from digital asset products in the third quarter. This represents a small portion of the company’s total $6.5 billion quarterly revenue. The firm’s assets under management increased to $13.4 trillion in Q3, up from $11.4 trillion the previous year.
BlackRock’s Position in Crypto Markets
The asset manager operates the largest spot bitcoin ETF in the United States. The fund holds $93 billion in assets under management. BlackRock’s spot ether ETF manages $17 billion. The company was among the first to launch these products in the U.S. market.
Fink’s current position on crypto marks a shift from his earlier views. In 2017, he called crypto an index of money laundering. By 2018, he said none of his clients wanted crypto exposure. During his recent CNBC interview, Fink acknowledged his past criticism and said his views evolved over time.
In a CBS 60 Minutes interview this week, Fink compared crypto’s portfolio role to gold. He described it as an alternative asset for diversification but said it should not represent a large portion of investor holdings.
