Catenaa, February 13, 2026 – BlackRock is moving further into decentralised finance, signalling deeper institutional engagement with blockchain markets. The company oversaw about $10 trillion in assets as of 2024, underscoring the weight any strategic shift it makes carries, according to its latest annual report.
The firm has already expanded into digital assets. In 2024, BlackRock launched the iShares Bitcoin Trust, which became one of the fastest-growing exchange-traded funds in history, surpassing $10 billion in assets within weeks, according to Bloomberg data. It also introduced a tokenised money market fund, BUIDL, built on public blockchain infrastructure.
Entering DeFi trading would mark a new phase. Unlike tokenised funds, DeFi’s trading involves direct interaction with smart contracts and on-chain liquidity pools. These platforms allow lending, borrowing, and asset swaps without traditional intermediaries.
Industry data from DefiLlama shows total value locked in DeFi stands at nearly $90 billion, well below the 2021 peak of over $170 billion. Activity has stabilised in 2024 and 2025 as infrastructure improved and institutional-grade custody expanded.
BlackRock executives have previously argued that tokenisation represents the “next generation of markets”, citing faster settlement and lower operational costs. Analysts at Boston Consulting Group estimated that tokenised assets could reach $16 trillion by 2030, reflecting rising institutional adoption.
However, risks remain. Smart contract vulnerabilities have led to billions in losses across DeFi protocols, according to Chainalysis research. Regulatory oversight is also intensifying, particularly in the United States and Europe.
BlackRock’s DeFi push reflects broader convergence between traditional finance and blockchain-based systems. Institutional participation can improve liquidity and governance standards, yet it may also bring tighter compliance frameworks.
If BlackRock expands active DeFi trading, the move could accelerate mainstream adoption of on-chain finance while reshaping how global asset managers access liquidity.
