BlackRock's Fink Declares Era of Asset Tokenization Has Arrived

When the CEO of the world’s largest asset manager says the financial system’s plumbing needs an upgrade, it commands attention. Larry Fink, who oversees roughly $14 trillion at BlackRock, has declared the asset tokenization era officially underway, urging the US to modernize its regulatory infrastructure.

BlackRock filed with the SEC on May 8-9 for two new tokenized products designed to offer on-chain shares via public blockchains. The firm is backing its conviction with capital, believing nearly every asset class will eventually migrate to a blockchain.

Fink began championing tokenization publicly during an October 2025 CNBC interview, but his 2026 annual chairman’s letter amplified the message, framing tokenization as a critical upgrade to financial infrastructure.

The flagship proof of concept is BUIDL, BlackRock’s tokenized US Treasury fund launched on Ethereum in March 2024. By May 2026, BUIDL grew to approximately $2.5 billion in assets under management. The broader market for tokenized real-world assets has surpassed $30 billion, representing over 200% growth year-over-year.

Fink is explicitly calling for regulatory reform, advocating for updated rules and better digital identity infrastructure to enable tokenized products to scale while meeting compliance standards.