According to BlackRock CEO Larry Fink's 2026 annual letter to shareholders, the crypto business and other high-growth markets could become a $500 million revenue stream for the company within the next five years. BlackRock currently manages nearly 800,000 BTC on behalf of clients through its spot Bitcoin ETF, valued at approximately $55 billion. Its iShares Bitcoin Trust ETF is estimated to generate around $250 million in annual fee revenue. Additionally, BlackRock's USD Institutional Digital Liquidity Fund, BUIDL, has become the world's largest tokenized fund, with assets under management exceeding $2 billion.
In the letter, Fink stated that BlackRock manages nearly $150 billion in assets related to the digital asset space, including approximately $65 billion in stablecoin reserves and nearly $80 billion in digital asset exchange-traded products. He suggested that tokenization could "refresh the infrastructure of the financial system" and likened the development of blockchain tokenization to the rapid growth of the internet in the 1990s. Fink also noted that if the United States underinvests in digitization and tokenization, other countries will surpass it.