$ONDO

Larry Fink compared tokenization to the internet in 1996.

In his 2026 Annual Letter to Shareholders, the CEO of BlackRock argued that the tokenization of stocks, bonds, and ETFs could democratize investing in the same way that the internet democratized information. "Half of the world’s population carries a digital wallet on their phone. Imagine if that same digital wallet also allowed you to invest in a wide range of companies for the long term, as easily as sending a payment. Tokenization could help accelerate that future."

BlackRock manages $14 trillion in assets and is already deeply involved in the space, with nearly $150 billion in digital assets under management, including BUIDL, the largest tokenized fund in the world.

Key points from the letter:

- _Digital wallets_: could enable easier investing through tokenized bonds, ETFs, and fractional assets, potentially democratizing market access.

- _Institutional commitment_: $65 billion in stablecoin reserves, indicating a deep institutional commitment to digital finance.

- Clear regulation: regarding investor protection and digital identity is not a barrier to progress; it is the infrastructure that enables it. #hbar