BlackRock outlines a blueprint for the integration of crypto and traditional finance, as the scale of digital asset management falls to $49.0 billion.

Deep Tide TechFlow message: On July 16, according to The Block, BlackRock CFO Martin Small disclosed during the Q2 earnings call that the company’s digital asset management AUM has fallen to $49.0 billion, down by about 40% from a year earlier, mainly due to a pullback in BTC and ETH prices. Despite this, BlackRock has not scaled back its long-term plans for the blockchain and tokenization track.

Small said the company’s long-term goal is to enable investors to “efficiently allocate crypto assets, stablecoins, and long-term stocks and bonds without leaving their digital wallets,” and it plans to gradually roll out tokenized Treasury fund products, iShares ETFs, and private market offerings. Specific progress includes:

Tokenized money market funds: It has submitted applications to the SEC for two products, allowing investors to subscribe and redeem with stablecoins across multiple chains.

Stablecoin reserve management: It currently manages reserves of about $60.0 billion from Circle, accounting for about one-quarter of the $300.0 billion global stablecoin market, with the goal of becoming the industry’s preferred reserve management provider.

Bitcoin ETFs: Its iShares Bitcoin Trust ETF (IBIT) has AUM of about $60.0 billion, making it the world’s largest spot Bitcoin ETF.

New products: Last month, it launched the iShares Bitcoin Premium Income ETF (BITA), which provides Bitcoin exposure and includes monthly options income.

BlackRock also kept unchanged its 2030 target of $500 million in revenue from crypto-related businesses, and defined tokenization as “the spearhead of entering an entirely new distribution channel—an opportunity for the company’s purely organic growth.”