BlackRock, the world's largest asset manager, is accelerating its push to merge crypto and traditional finance, viewing tokenization as a long-term growth opportunity. CFO Martin Small outlined plans to let investors allocate funds across crypto, stablecoins, stocks, and bonds directly from digital wallets.
Tokenization of Traditional Products
BlackRock aims to tokenize funds like U.S. Treasury portfolios, iShares ETFs, and private market assets for blockchain-based offerings. It recently filed with the SEC for two tokenized money market funds, which would allow purchases and redemptions using stablecoins across multiple blockchains. The firm wants to bridge traditional capital markets with tokenized assets, delivering cash management products directly into the digital asset space.
Stablecoin Strategy and Revenue Goals
BlackRock is also doubling down on stablecoins. Small revealed the firm manages roughly $60 billion in reserve assets for Circle, the issuer of USDC. BlackRock's goal is to become the leading manager of stablecoin reserves. Despite a 39% drop in digital asset AUM to about $48.8 billion as of Q2 2026—driven by declines in Bitcoin and Ethereum prices—BlackRock maintains its target of $500 million in annual revenue from crypto-related businesses by 2030.