BlackRock says its long-term aim is to offer crypto and traditional assets inside digital wallets

BlackRock outlined a long-range plan to make its investment products available natively where investors already hold digital assets, according to remarks from Chief Financial Officer Martin Small during the company’s earnings call, as cited by The Block. Small said the firm wants investors to allocate crypto assets, stablecoins, and long-term stocks and bonds without leaving their digital wallets, sketching out a model in which digital asset infrastructure and mainstream investing products sit side by side. He also said BlackRock is seeking, over time, to offer tokenized Treasury funds, iShares exchange-traded funds, and private markets products. In his description, tokenization and crypto represent a “pure organic growth opportunity” for the firm. The comments place tokenized versions of traditional financial products alongside BlackRock’s broader digital asset strategy. The update came even as BlackRock’s digital asset assets under management fell to $49 billion in the second quarter because of weak market conditions, down about 40% from a year earlier. Even so, the company reiterated a 2030 revenue target of $500 million for its crypto-related business. BlackRock also manages the world’s largest spot Bitcoin ETF, with about $60 billion in AUM. After the earnings release, the company’s stock rose more than 7% in early trading.