BlackRock CEO Larry Fink has published his annual letter to investors - a document that traditionally combines reporting with philosophical reflections on the future of finance. This time, the text made no mention of cryptocurrencies: neither Bitcoin, which brings the company significant commission revenue, nor Ethereum, despite the recent launch of an ETF based on it.
Notably, the focus was not on the ETF that generates more than $130 million annually for the group and is the most profitable in BlackRock’s lineup, but rather on a strategic transformation of infrastructure.
The letter’s emphasis is placed exclusively on tokenization - a direction BlackRock has been paying close attention to over the past two years. According to Fink, this technology has the potential to radically transform asset management and become a new source of capital for the U.S. economy.