BlackRock pitches tokenized money market funds as instant collateral while crypto ETF flows diverge

BlackRock, the world’s largest asset manager, used appearances at the TOKEN2049 crypto-industry conference to promote tokenized money market funds as a mechanism for institutions to post collateral instantly rather than waiting on conventional settlement cycles, according to coverage of the event. The pitch extends the firm’s multi-year push into tokenization, which has included its BUIDL tokenized Treasury fund and partnerships across several blockchain networks.

The tokenization push is unfolding alongside a more mixed picture in BlackRock’s crypto exchange-traded funds. The firm’s iShares Ethereum Trust (ETHA) recorded a single-day redemption of approximately $201.9 million on October 6, 2026, a notable outflow for the fund. At the same time, BlackRock’s iShares Bitcoin Trust (IBIT) continued to attract inflows, which firm executives have said reflects reduced investment minimums that have made the product more accessible to institutional allocators. The divergence between the two funds illustrates how investor appetite for Bitcoin- and Ethereum-linked products can move independently even within the same issuer’s lineup.

On the corporate side, BlackRock is set to report third-quarter 2026 results on October 14, 2026. Ahead of that release, JPMorgan Chase raised its price target on BlackRock shares from $1,364 to $1,435 while maintaining an overweight rating, according to analyst research cited in market coverage. Separately, the firm has been advancing a U.S. fiber-infrastructure joint venture alongside AT&T and the Canada Pension Plan Investment Board (CPP Investments), part of BlackRock’s broader expansion into infrastructure investing beyond its traditional asset-management business.

CEO Larry Fink has also weighed in publicly on artificial intelligence, saying he is more concerned about the United States losing a global AI race than about an AI investment bubble forming — a comment that places BlackRock’s tokenization and AI-adjacent infrastructure bets within a broader strategic view the firm has articulated about where long-term capital should flow.