BlackRock CFO Martin Small detailed a plan to reach $500M in annual digital assets revenue by 2030, focused on crypto ETFs and stablecoin reserves, with a long-term push into tokenized funds.
BlackRock is targeting $500 million in annual revenue from its digital assets business by 2030, CFO Martin Small said on the company's second-quarter earnings call. The aspiration marks a significant expansion from the roughly $40 million in base fees the segment generated in Q2 on $48.8 billion in assets under management.
Small outlined two main areas of focus. One is growing BlackRock's lineup of regulated crypto investment products. The company already runs the iShares Bitcoin Trust (IBIT), the iShares Ethereum Trust (ETHA) and the tokenized Treasury fund BUIDL. It recently filed for a Bitcoin Premium Income ETF, an options-based product that would generate yield from Bitcoin.
A second area involves stablecoin reserve management. BlackRock currently oversees about $60 billion of the reserves backing Circle's USDC stablecoin, Small said. Those reserves generate recurring management fees that do not depend on crypto price swings or ETF inflows.
A longer-term push targets distributing traditional investment products through blockchain networks. BlackRock has filed for two tokenized money market funds, Small said. The funds would support stablecoin-enabled subscriptions and redemptions, allowing investors to buy directly from a crypto wallet without moving money to a bank or brokerage.
"We've recently filed two registration statements with the SEC for tokenized money market funds," Small said. The funds would be accessible across multiple blockchain networks. He did not provide a timeline for the filings or when the $500 million target might be reached beyond the 2030 goal.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.