Fink Pushes ‘One Common Blockchain’ at Davos; BlackRock Data Shows Ethereum Dominance
BlackRock’s CEO argues a unified ledger will ‘reduce corruption’ while new data reveals Ethereum holds 65% of the tokenized asset market.
BlackRock CEO Larry Fink called for a unified global ledger to democratize finance and eliminate corruption, speaking at the World Economic Forum in Davos this week. The comments coincide with a 2026 Thematic Outlook from the asset manager identifying the Ethereum blockchain as the settlement layer for 65% of all tokenized real-world assets (RWA).
The ‘Single Ledger’ Thesis
During a Davos panel, Fink argued that the fragmentation of global liquidity benefits rent-seekers. His solution is a convergence toward a shared infrastructure.
"If we have one common blockchain, we could reduce corruption," Fink stated. "We would be reducing fees, we would do more democratization… if we had all investments on a tokenized platform that you can move from a tokenized money market fund to equities and bonds and back and forth."
This phrasing suggests a departure from the multi-chain fragmentation currently plaguing DeFi, pointing instead toward a winner-take-most outcome for the underlying settlement layer.
Institutional Plumbing: NYSE & BlackRock
The infrastructure to support Fink’s vision is arriving in real-time. On Jan. 19, the New York Stock Exchange (NYSE) announced the development of a platform for 24/7 trading and on-chain settlement. Unlike previous experiments, the NYSE venue will support stablecoin funding and instant settlement, signaling a move beyond mere pilot programs.
Simultaneously, BlackRock’s 2026 Outlook explicitly positions Ethereum as the current market leader, noting it underpins "more than 65% of tokenized assets." While the report refrains from a direct price target, it frames the network as a potential "toll road" for global capital.
Market Apathy
Despite the institutional validation, crypto markets remain unresponsive. Ethereum (ETH) hovered around $2,959 (-0.3%) on Saturday, down 11% over the last week. The disconnect highlights a current skepticism among retail traders, who are fading long-term infrastructure news in favor of short-term liquidity flows.
