BlackRock expands into private markets with $400 billion fundraising goal, tokenization at the center
RWA Signal Insight
Private CreditBlackRock is shifting its strategic focus from traditional ETFs toward tokenized private markets, setting a target of $400 billion in gross fundraising by 2030. To support this transition, the firm completed strategic acquisitions of Global Infrastructure Partners, HPS Investment Partners, and data provider Preqin. These entities provide the necessary infrastructure for private credit, equity, and physical asset tokenization. The firm's BUIDL tokenized treasury fund, which launched on Ethereum in 2024, reached $2 to $2.5 billion in assets under management by mid-2026. CEO Larry Fink views tokenization as the primary vehicle for expanding access to real estate, credit, and infrastructure assets. BlackRock expects these technology-driven private market strategies to eventually account for over 20% of its long-term revenue. Success remains contingent on regulatory approval for retirement and insurance portfolios to hold these tokenized assets at scale. This pivot signals a major institutional endorsement of blockchain technology as the future backbone for global asset management.
Key points
- BlackRock targets $400 billion in private market fundraising by 2030.
- BUIDL fund reached $2.5 billion AUM across multiple blockchains by mid-2026.
- Acquisitions of GIP, HPS, and Preqin provide infrastructure for tokenized private assets.
- BlackRock manages $80 billion in digital ETPs and $65 billion in stablecoin reserves.
Background
BlackRock is the world's largest asset manager, overseeing trillions in global investments across diverse asset classes. The firm has increasingly integrated blockchain technology into its operations, most notably through the BUIDL fund, which provides institutional investors with yield-bearing exposure to U.S. Treasuries on-chain.