Davos Highlights: BlackRock Bets on Ethereum for Global Assets

At the Davos forum, Larry Fink, CEO of the world’s largest asset management company, announced that the wave of tokenization is unstoppable, and a universal blockchain will be the future financial infrastructure that underpins all of this.

Just concluded at the Davos World Economic Forum, Larry Fink, CEO of BlackRock, explicitly stated that tokenization is an inevitable trend, and the future belongs to a universal blockchain platform.

The crypto community quickly interpreted this, suggesting that the universal blockchain hinted at by this financial giant managing nearly $10 trillion in assets is Ethereum. BlackRock’s flagship tokenization fund BUIDL is built on Ethereum.

1. Davos Declaration

● At the 2026 Davos World Economic Forum, Larry Fink expressed his view on the future of finance: “Tokenization is inevitable, and a universal blockchain is the future.”

● The leader of the world’s largest asset management firm painted this picture: if all investments are conducted on tokenization platforms, transaction costs will be significantly reduced, and capital can seamlessly flow between money market funds, stocks, and bonds.

● He further pointed out that having a universal blockchain can also reduce financial corruption. In Fink’s vision, blockchain will become the underlying operating system of future financial markets.

2. The Subtext of Ethereum

Although Fink did not directly name Ethereum in his speech, crypto market observers quickly linked his remarks to Ethereum.

● Gareth Jin, an insider whale of “BTC OG,” pointed out that the universal blockchain Fink referred to might imply Ethereum, as BlackRock’s flagship tokenization fund BUIDL is built on Ethereum.

● This judgment is based on a simple logic: BlackRock is implementing Fink’s vision of a “single universal blockchain” through its own practice, positioning Ethereum as the leading institutional-grade real-world asset (RWA) tokenization infrastructure today.

● The market generally believes that, as the world’s largest asset management company, BlackRock’s actions carry more weight than words.

3. The Action Blueprint

BlackRock’s crypto strategy has long gone beyond verbal commitments. In recent years, this financial giant has built a comprehensive strategic map in the digital asset space.

● In traditional crypto products, BlackRock’s iShares Bitcoin Trust and iShares Ethereum Trust have performed remarkably. These two flagship products have attracted a total inflow of $55 billion and $12.7 billion respectively, both surpassing $10 billion in assets under management within a year.

● Its more forward-looking attempt is the BUIDL fund launched in 2023, the first tokenization fund to surpass $1 billion in scale. The full name is BlackRock USD Institutional Digital Liquidity Fund, currently operating entirely on the Ethereum chain, with assets exceeding $2 billion by 2025.

● BlackRock is exploring the possibility of bringing funds linked to real-world assets, including traditional ETFs, onto the blockchain. If successful, this could mark a key step toward on-chain financial assets.

4. Wall Street’s On-Chain Experiment

BlackRock’s exploration is not an isolated case; a comprehensive “on-chain” experiment on Wall Street is underway.

● Fidelity’s tokenized money market fund has gone live on Ethereum. Nasdaq has applied to the U.S. Securities and Exchange Commission to enable parallel trading of tokenized securities and traditional stocks within exchanges.

● In BlackRock’s latest 2026 thematic outlook report, the company officially listed cryptocurrency and asset tokenization as important market-driving trends.

● The report specifically pointed out that Ethereum’s blockchain, due to its extensive application in building decentralized applications and token infrastructure, is expected to benefit from the development of tokenization.

5. Obstacles to Financial Reconstruction

Despite active layouts by giants like BlackRock, the road to a universal blockchain financial system remains challenging.

● Regulation is the primary obstacle. BlackRock’s tokenization efforts cannot bypass a core prerequisite—regulatory approval. The U.S. Securities and Exchange Commission has yet to provide a clear compliance framework for tokenized securities.

● Skeptics question the necessity of tokenization. Bloomberg ETF analyst Erik Balchunas pointed out that ETFs are already low-cost, highly liquid, and accessible products, with little reason for replacement. Data shows that the total on-chain market for tokenized U.S. stocks is less than $500 million, far below the trillions of dollars in the ETF market.

● ETF research expert Dave Nadig believes that true tokenization requires rewriting laws and comprehensive regulatory cooperation. Under the current system, tokenization is more of a “packaging layer” rather than a fundamental financial revolution.

6. The Path to a Universal Blockchain

● Despite challenges, BlackRock’s layout indicates that the financial system may be undergoing a fundamental transformation. Asset tokenization could become a “second growth curve” for ETFs—not a replacement, but an expansion.

● Tokenization can leverage blockchain technology to reach populations that traditional finance finds difficult to serve. Tokenized assets are not just “buy and hold”; they can also participate directly in decentralized finance activities as on-chain assets.

● The true vision of a universal blockchain means assets are created, traded, and settled fundamentally on the blockchain, no longer relying on traditional brokers and clearinghouses. BlackRock’s 2026 outlook report views digital assets as part of a larger “transformative force” encompassing AI, geopolitics, and global infrastructure.

On Ethereum blockchain, BlackRock’s BUIDL fund has exceeded $2 billion in assets, leading the way in institutional-grade real-world asset tokenization.

Bloomberg ETF analyst Erik Balchunas questions: “ETFs are already low-cost, highly liquid, and accessible products, with little reason for replacement.” In his view, the traditional financial system is already efficient enough.

But Larry Fink’s declaration at Davos still echoes: “All financial assets will eventually be tokenized.” This financial giant’s bet is quietly driving a potential revolution that could reshape global financial infrastructure.