TechFlow news, July 16, according to The Block, BlackRock CFO Martin Small disclosed during the Q2 earnings conference call that the company's digital assets under management (AUM) dropped to $49 billion, down approximately 40% from a year ago, mainly dragged down by BTC and ETH price corrections. Despite this, BlackRock's long-term strategy in the blockchain and tokenization sectors has not shrunk.
Small stated that the company's long-term goal is to enable investors to "efficiently allocate crypto assets, stablecoins, and long-term equity and bond assets without leaving their digital wallets," and plans to gradually launch tokenized Treasury funds, iShares ETFs, and private market products. Specific progress includes:
- Tokenized money market funds: Two product applications have been submitted to the SEC, supporting investors to subscribe and redeem with stablecoins across multiple chains
- Stablecoin reserve management: Currently managing approximately $60 billion of Circle's reserve assets, accounting for about one-quarter of the global $300 billion stablecoin market, aiming to become the industry's preferred reserve manager
- Bitcoin ETF: Its iShares Bitcoin Trust ETF (IBIT) AUM is approximately $60 billion, the largest spot Bitcoin ETF globally
- New products: Launched the iShares Bitcoin Premium Income ETF (BITA) last month, providing Bitcoin exposure with attached monthly option income
BlackRock maintains its $500 million revenue target for crypto-related business by 2030 unchanged, and defines tokenization as "the spearhead for entering new distribution channels, representing a pure organic growth opportunity for the company."
