Hey, it’s Marc.

Larry Fink doesn’t do pilot programs anymore.

On Tuesday, the CEO of the world’s largest asset manager—$13.46 trillion in AUM—told Wall Street that BlackRock is building proprietary tokenization technology to rebuild capital markets on-chain.

“We need to be tokenizing all assets, especially assets that have multiple levels of intermediaries,” Fink said during Q3 earnings. He called it “the next wave of opportunity for BlackRock over the next tens of years.” 

— BlackRock Inc. CEO Larry Fink

The goal? To onboard the next generation of investors. What Larry Fink meant:

“If we can tokenize an ETF, we can bring investors who start with crypto into traditional long-term products. Over the next decade, we’ll move away from traditional assets by repotting them in a digital form and keeping investors inside that ecosystem.”