BlackRock CEO Larry Fink pointed to several trends in digital assets in his annual letter to shareholders on Wednesday. Beyond the media’s “obsession” with Bitcoin and the FTX debacle, Fink said BlackRock has several areas of interest.
In many emerging markets such as India, Brazil and parts of Africa, we are witnessing huge advances in digital payments, reducing costs and advancing financial inclusion. As for the asset management industry, the operational potential of the underlying technology of digital assets may yield exciting applications. The company will continue to explore the digital asset ecosystem, especially the areas most relevant to our clients, such as permissioned blockchains and the tokenization of stocks and bonds.