Key Notes
- BlackRock targets $4.1 trillion in digital wallets through asset tokenization, converting traditional products into digital formats.
- Ethereum ETFs experienced $428.5 million in net outflows on Oct 13, with BlackRock contributing $19.1 million to the selloff.
- Bitcoin maintains position above $112K support level despite short-term bearish pressure and technical indicator divergence.
BlackRock CEO Larry Fink stated the financial industry is at “the beginning of the tokenization of all assets” during an Oct. 14 interview on CNBC’s Squawk on the Street. The comment came as the firm’s iBIT Bitcoin ETF surpassed $100 billion in assets and total digital holdings reached $107.4 billion.
Fink outlined a strategy to access $4.1 trillion held in digital wallets globally by digitizing traditional financial products. He described the approach as “repotting” assets like ETFs into digital formats, pointing to the firm’s tokenized money market fund and expanding digital asset platform as examples.
Volatile ETF Flows Contrast Strategic Vision
The long-term vision contrasts with recent institutional fund movements. On Oct. 13, Ethereum ETH $4 104 24h volatility: 3.8% Market cap: $493.68 B Vol. 24h: $56.23 B ETFs recorded $428.5 million in net outflows, with BlackRock’s ETHA fund contributing $19.1 million to the selloff, according to Farside Investors data.
Two days earlier, Ethereum ETFs posted $174.9 million in aggregate outflows, led by BlackRock’s $80 million withdrawal from ETHA. The Oct. 10 move coincided with approximately $114 million in increased on-chain Ethereum staking deposits, suggesting potential reallocation from non-yield ETF positions to staking.
The recent outflows follow record inflows for Ethereum ETFs in mid-September. BlackRock’s ETHA recorded its largest single-day intake of $363 million on Sept. 15, the highest in 30 days at the time.
BlackRock manages $17.25 billion across its digital asset ETFs and primarily uses Coinbase Prime for custody operations, with over $17.2 billion in withdrawals and $2.5 billion in deposits logged with the counterparty since March 2024, based on Arkham Intelligence tracking.
The asset manager’s tokenization push aligns with broader institutional adoption , including recent moves by trading platforms to enable 24/7 access to tokenized securities.
Bitcoin Consolidates Above $112K
Bitcoin BTC $112 711 24h volatility: 2.8% Market cap: $2.24 T Vol. 24h: $88.15 B traded at $113,242 as of press time, maintaining its position above key support at $110,217 despite bearish pressure across short-term timeframes. The cryptocurrency faces immediate resistance at $114,716, while technical indicators reveal diverging signals across different time horizons.
BTC/USDT 1H Chart | Source: TradingView
However, the broader weekly trend remains constructive, with BTC price trading 74% above the 200-week moving average, suggesting underlying strength in the long-term structure.
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