BlackRock CFO: The company’s long-term goal is to provide crypto assets and various traditional assets within digital wallets

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PANews July 16, according to The Block, BlackRock CFO Martin Small outlined the company’s vision for integrating crypto with traditional finance during an earnings call, saying the long-term goal is to make BlackRock products natively available in places where investors hold digital assets—“so investors don’t need to leave their digital wallets to efficiently allocate to crypto assets, stablecoins, and long-term stocks and bonds.”

The company also seeks to ultimately offer tokenized Treasury funds, iShares ETFs, and private market products, saying tokenization and crypto are “a pure, endogenous growth opportunity.”

Despite the second-quarter digital asset management AUM falling to $49 billion due to market weakness (down about 40% year over year), BlackRock reiterated its 2030 revenue target for crypto-related business of $500 million. The company’s stock price rose more than 7% in early trading after the earnings release. BlackRock manages the world’s largest spot Bitcoin ETF, with AUM of about $60 billion.

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