BlackRock (NYSE: $BLK) Chief Executive Officer (CEO) Larry Fink says the asset manager’s cryptocurrency business could generate $500 million U.S. in annual recurring revenue.
In his 2026 letter to shareholders, Fink writes that crypto is poised to become a major revenue engine for the world’s largest asset manager.
Within the next five years, BlackRock’s crypto business is projected to generate half a billion dollars a year, wrote the CEO.
BlackRock, which has total assets under management (AUM) of $14 trillion U.S., now manages close to $150 billion U.S. in crypto-linked products.
Much of that money comes from BlackRock’s popular spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), that was launched in 2024.
The IBIT fund now has $55 billion U.S. under management and generates an estimated $250 million U.S. in annual fees for BlackRock.
However, BlackRock’s cryptocurrency strategy extends beyond Bitcoin and now includes tokenized assets.
BlackRock today manages the BUIDL fund, which is the largest tokenized treasury product globally with more than $2 billion U.S. of assets.
The New York-based asset manager also manages tens of billions of dollars tied to stablecoins and other digital asset products.
The push into crypto is a sharp reversal for Fink, who had for years been a prominent skeptic when it came to digital assets such as Bitcoin (BTC).
BLK stock is currently trading at $973.44 U.S., having declined 10% this year.
COMTEX_475940297/2797/2026-03-25T13:20:34