Larry Fink. Credit: Lev Radin/Shutterstock
BlackRock CEO Larry Fink sees the "tokenization of all assets" as a way to attract new investors in decades to come.
Globally, $4.1 trillion sits in digital wallets, with much outside the United States, Fink noted in a CNBC "Squawk on the Street" interview Tuesday.
"I do believe we’re just at the beginning of the tokenization of all assets from real estate to equities to bonds across the board," the CEO said.
“If we could tokenize an ETF, digitize that ETF, we can have investors who are just beginning to invest in markets through let’s say crypto … but now we can get them into the more traditional long term or retirement products."
Fink added: "So we look at that as the next wave of opportunity for BlackRock over the next tens of years as we start moving away from traditional financial assets by repotting them in a digital manner and then having people stay in that digital ecosystem.”
BlackRock already has the largest tokenized cash money market fund, the BlackRock USD Institutional Digital Liquidity Fund, or BUIDL, Fink said. The company launched BUIDL last year as the next progression in its digital assets strategy.
Credit: Lev Radin/Shutterstock
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