BlackRock, the world’s largest asset management company, has been granted approval for its Bitcoin spot ETF application on the 11th. Larry Fink, CEO of BlackRock, recently stated that asset tokenization will be the next trend and hinted that BlackRock hopes to tokenize financial assets such as stocks and bonds.
BlackRock, with assets under management exceeding $10 trillion, submitted a Bitcoin spot ETF application in June last year, triggering a wave of traditional financial institutions’ Bitcoin spot ETF applications. On the 11th, the U.S. Securities and Exchange Commission (SEC) approved 11 Bitcoin spot ETF applications, including BlackRock, marking an important milestone in the cryptocurrency industry.
Asset tokenization is the next trend, according to Larry Fink, CEO of BlackRock, who mentioned in an interview with Bloomberg on the 12th that after the listing of the Bitcoin spot ETF, asset tokenization will be BlackRock’s next step. CUSIP, the Committee on Uniform Security Identification Procedures, is the identification number for all U.S. stocks and registered bonds, managed by the American Bankers Association’s Committee on Uniform Securities Identification Procedures (CUSIP).
In Larry Fink’s view, through tokenization, all the problems surrounding bonds, stocks, and digital illegal activities can be eliminated, and most importantly, investment strategies suitable for each individual can be customized through tokenization. In a previous interview with CNBC on the 12th, Larry Fink also stated that the Bitcoin spot ETF is the first step in the financial market’s technological revolution, and the second step will be the tokenization of every financial asset. He sees the value of Ethereum ETF, and all of these are just the beginning of tokenization.