The application for the Bitcoin spot ETF of BlackRock, the world’s largest asset management company, was approved 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.
With assets under management exceeding $10 trillion, BlackRock submitted the application for the Bitcoin spot ETF in June last year, sparking a wave of applications for traditional financial institutions. The U.S. Securities and Exchange Commission (SEC) approved the applications for 11 Bitcoin spot ETFs, including BlackRock, on the 11th, marking an important milestone for the cryptocurrency market.
Asset tokenization is the next trend, according to Larry Fink, CEO of BlackRock, in an interview with Bloomberg on the 12th. After the listing of the Bitcoin spot ETF, asset tokenization will be the next step for BlackRock. CUSIP, the Committee on Uniform Security Identification Procedures, is an identification number for all U.S. stocks and registered bonds, managed by the CUSIP Service Bureau.
In Larry Fink’s view, tokenization can eliminate all the problems surrounding bonds, stocks, and digital illicit activities, and most importantly, it can customize investment strategies for everyone. Larry Fink also stated in an interview with CNBC on the 12th 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 an Ethereum ETF, and these are just the beginning of tokenization.
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