Larry Fink, the CEO of BlackRock, is seeing his prophecy of "asset tokenization" accelerate towards realization. Following the success of the Bitcoin Spot ETF in 2024, BlackRock has partnered with Securitize to launch its first tokenized fund on Ethereum – BUIDL, turning shares of traditional money market funds into Tokens that can circulate on the blockchain 24/7.



At the same time, the number of companies holding cryptocurrency as a strategic reserve, known as DATCOs, has surged, with the total amount of cryptocurrency held on their balance sheets historically surpassing $100 billion.

The key variable comes from the shift in attitude of the U.S. government. The previously ambiguous and sometimes hostile regulatory environment saw a decisive turning point in 2025. The U.S. government not only became an important holder of Bitcoin (having seized nearly 200,000 Bitcoins through law enforcement), but more importantly, began to establish clear "rules of the game" for the industry.

The "GENIUS Act" signed in July is the United States' first comprehensive federal regulatory framework for stablecoins, providing a compliance path for this market, which is valued at over $250 billion. Following this, the executive order allowing $9 trillion in U.S. pension funds to invest in cryptocurrencies and other alternative assets has opened up a massive influx of capital into the market. This top-down recognition has fundamentally changed the risk-reward calculation for institutional entry and has made the foundation of this transformation exceptionally solid.
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