Martin Small: BlackRock's long-term goal is to integrate crypto assets and traditional financial products within digital wallets

According to The Block, BlackRock CFO Martin Small stated during an earnings call that the company's long-term goal is to enable investors to allocate crypto assets, stablecoins, stocks, and bonds directly within digital wallets, and it is seeking to offer tokenized treasury funds, iShares ETFs, and private market products. BlackRock's digital asset management scale dropped to $49 billion in the second quarter, but the company reaffirmed its crypto-related business revenue target of $500 million by 2030. After the earnings report was released, the company's stock price rose over 7% in early trading.