BlackRock CEO Says Asset Tokenization Will Modernize Wall Street
Asset tokenization records ownership of funds, bonds and other assets on a digital ledger, allowing fractional ownership, instant transfers and round-the-clock trading. It is particularly significant in the United States, where about 40% of the population still does not participate in capital markets. BlackRock views digital assets as infrastructure connecting traditional finance with blockchain, rather than simply as a cryptocurrency strategy.
BlackRock Chairman and CEO Larry Fink said in his annual shareholder letter published on March 23, 2026, that tokenization is akin to the internet in 1996 and could reduce issuance, trading and access costs through regulated digital wallets. The company has nearly $150 billion in digital-market-related assets, including $65 billion in stablecoin reserves and nearly $80 billion in digital-asset ETFs.
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The history behind this eventFed’s Cook Says Tokenization Can Boost Efficiency but Will Not Replace Traditional Finance
Asset tokenization uses distributed ledgers to record ownership of assets such as bonds and money market funds, with smart contracts automating transactions. The technology can shorten settlement times, improve collateral and liquidity management, and potentially broaden cross-border investment. But it must still integrate with existing market infrastructure, legal frameworks and investor protections, all of which have implications for financial stability.
Federal Reserve Governor Lisa Cook told a digital-assets conference hosted by the Central Bank of West African States, or BCEAO, in Dakar, Senegal, on May 8, 2026, that the value of tokenized assets in the United States had more than doubled within a year to about $25 billion. She said tokenization would not replace traditional finance but could make it more efficient. The Fed will monitor the risks of runs stemming from 24-hour trading, interconnected systems and cyberattacks.
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