Blackrock (BLK), the asset management giant, which oversees more than $ 13 trillion assets, raises the efforts to bring traditional funding (tradifi) onchain, seeking a greater role in tokenization as a way of locking access to markets and streamlines how assets are traded.
Teams across the company is investigating how to use tokenization to make markets more efficient and accessible, with leadership suggesting greater movements ahead, CEO Larry Fink said during an earnings call after its re -release on Tuesday.
“I think we have some exciting messages in the coming years about how we could play a bigger role in this whole idea of ​​tokenization and digitization of our assets,” Fink said.
Fink said he is looking digitally asset – a market that is currently worth over $ 4.5 trillion – growing “significantly” in the next few years.
Blackrock was among the first to issue Spot -based Bitcoin and ether Exchange -traded funds (ETFs) in the United States and are the largest products of their kind with $ 93 billion and $ 17 billion in assets under management (AUM).
Asset Manager is also behind the largest tokenized money market fund on the market, the $ 2.8 billion Blackrock USD Institutional Digital Liquidity Fund (BUIDL) issued with tokenization specialist Securitize and available across various blockchains, including Ethereum, Solana and Avalanche. Blackrock led Securitize’s $ 47 million fundraising round last year’s tokenization that gained traction.
Blackrocks AUM grew to $ 13.4 trillion in the third quarter of the year, up from $ 11.4 trillion the year before. The company reported $ 61 million in revenue from its digital asset products, only a fraction of the company’s total income of $ 6.5 billion per year. Earnings.
Blackrock shares traded about 1.5% higher during breakfast shopping on Tuesday.
Read more: Blackrocks Bitcoin ETF generates more revenue than its flagship S&P 500 Fund
