BlackRock Targets the "Digital Wallet Era": Larry Fink Aims to Tokenize All Traditional Assets
BlackRock CEO Larry Fink stated that asset tokenization is the next revolution in financial markets, aiming to bring traditional financial assets into digital wallets. The company manages $13.5 trillion in assets, while the digital wallet market is around $4.1 trillion. BlackRock connects traditional capital markets with crypto investors through tools such as tokenized ETFs; its bitcoin trust IBIT now has more than $100 billion in assets. Summary generated by Mars AI. This summary is produced by the Mars AI model, and its accuracy and completeness are still being iteratively improved.
Larry Fink, CEO of the world's largest asset management company BlackRock, has identified "asset tokenization" as the next revolution in financial markets, with the goal of "putting all traditional financial assets into digital wallets."
On October 14, during the company's latest Q3 2025 earnings call, BlackRock not only announced that its assets under management (AUM) had reached a record $13.5 trillions, but Fink also clearly pointed out the company's key direction for the future. According to him, the value of assets held in global digital wallets has reached approximately $4.1 trillions, representing a huge potential market.
Fink's vision is that by tokenizing traditional investment tools such as exchange-traded funds (ETFs), a bridge can be built between the traditional capital markets and a new generation of tech-savvy crypto investors.
"This is the next wave of opportunity for BlackRock in the coming decades," Fink said in an interview with CNBC. This strategy has already been preliminarily validated by the success of its iShares Bitcoin Trust (IBIT), which surpassed $100 billions in assets in less than 450 days, becoming the fastest-growing ETF in history.
This forward-looking strategy has quickly received positive feedback from Wall Street. Investment bank Morgan Stanley reiterated its "overweight" rating on BlackRock stock in a research report, noting that "tokenization of all assets" is one of the core narratives supporting its bullish outlook on BlackRock.
Aiming at the $4 Trillion Digital Wallet Market
The core of BlackRock's strategy is to tap into the vast pool of funds currently outside the traditional financial system. According to Fink, the digital wallet market is valued at about $4.1 trillions.
In a report released on October 15, Morgan Stanley estimated that the total value of current crypto assets, stablecoins, and tokenized assets has exceeded $4.5 trillions, and that these funds "currently do not have access to long-term investment products."
According to Morgan Stanley's analysis, BlackRock's goal is to "replicate everything in today's traditional finance into digital wallets."
By achieving this, BlackRock can introduce young investors who are accustomed to using tokenized assets to more traditional asset classes such as stocks and bonds, and provide them with long-term retirement savings opportunities.
Fink believes that tokenization can also reduce transaction costs and intermediary fees, for example in real estate and other sectors.
Asset Tokenization: The Future Vision of Finance
Fink firmly believes that the next major transformation in global finance will come from the tokenization of traditional assets, including stocks, bonds, and real estate. In an interview, he stated that the company sees tokenization as an opportunity to bring new investors into mainstream financial products through digital means.
Fink pointed out that although tokenization has great potential, it is still in its early stages. He cited research from Mordor Intelligence predicting that the tokenized asset market will exceed $2 trillions by 2025 and could soar to over $13 trillions by 2030.
BlackRock is already laying the groundwork for deeper involvement in this field. The company's internal teams are actively exploring new tokenization strategies to consolidate its leadership in digital asset management.
From Bitcoin Skeptic to Blockchain Advocate
Fink's shift in attitude towards digital assets marks the evolution of mainstream financial institutions' views on the sector. He once called Bitcoin a "money laundering index," but his stance is now completely different.
In a recent interview, Fink admitted that his views have changed. He told CNBC: "I used to be a critic, but I am growing and learning."
He now compares crypto assets to gold, seeing them as an alternative investment for portfolio diversification.
Wall Street Bullish on Tokenization Growth Prospects
Wall Street analysts believe that BlackRock, with its industry status and resources, is fully capable of dominating the tokenization space.
Morgan Stanley analyst Michael J. Cyprys raised BlackRock's target share price to $1,486 in his report, emphasizing that its "grand vision of tokenizing all assets" is a key driving force.
The report noted that BlackRock has already experimented with its tokenized money market fund BUIDL, which has grown its assets under management to nearly $3 billions since its launch in March 2024.
Morgan Stanley believes that with strategic focus from the top management, company scale, broad business footprint, and client relationships, BlackRock is well-positioned to influence the future industry structure and to collaborate with leading exchanges and providers to execute and deliver tokenized BlackRock products.
BlackRock seeks to tokenize traditional assets as a bridge connecting traditional capital markets and digital assets. Tokenization has the potential to bring traditional assets into the digital wallet-native paradigm—currently, crypto assets, stablecoins, and tokenized assets worth over $4.5 trillions cannot access long-term investment products.
BlackRock's goal is to replicate everything in today's traditional finance into digital wallets, so that investors never have to leave their digital wallets to build a long-term, high-quality portfolio that includes stocks, bonds, cryptocurrencies, commodities, and more.
By achieving this, BlackRock can guide a large number of young investors who use tokenized assets towards more traditional assets and prepare them for future long-term retirement savings opportunities.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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