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In a step into the financial and crypto industry, BlackRock, the world’s largest asset management company, recently launched a fund for tokenized assets on the Ethereum network.
Named the BlackRock USD Institutional Digital Liquidity Fund, the fund will be managed with BUIDL tokens fully collateralized by cash, US Treasury bills, and resale contracts. This approach ensures daily revenue distribution to token holders through blockchain technology.
In addition, BlackRock has made a strategic investment in Securitytize to strengthen its position in the digital asset space. Details of the investment process remain confidential, but will be handled by Securitization, a company that will perform tokenization and transfer agent functions for the fund.
News of our partnership with Securitize @blackrock I created the top page of @work!
“The world’s largest asset management company announced that it plans to launch “BlackRock USD Institutional Digital Liquidity Fund Ltd.” We have partnered with Securitize, a digital asset company specializing in tokenization. ” pic.twitter.com/r6l3u7uNBM
The fund, which was registered in the British Virgin Islands last year, is a significant expansion of BlackRock’s efforts in the digital asset space. Through Securitize’s experience in tokenizing real-world assets (RWA), this fund will represent a new era of financial products designed to promote asset liquidity and availability.
A joint effort between BlackRock and Securitize was hinted at in a previous regulatory filing, sparking widespread speculation about the possibility of developing a tokenized fund. BNY Mellon will hold custody of the fund’s assets, according to a press release. Additional support will also be provided by Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks, creating a robust ecosystem for fund operations.
As stated by Robert Mitchnick, Head of Digital Assets at BlackRock, this development is a continuation of BlackRock’s deepening commitment to digital assets. Mitchnick emphasized the company’s focus on solving customer problems through digital asset solutions and emphasized the importance of this launch in BlackRock’s digital asset strategy.
We are focused on developing solutions in the digital assets space that help our clients solve real-world problems, and we look forward to working with Securitize.
Parallel to developments in the crypto industry, speculation is growing about the possibility of a Spot Solana ETF being approved, along the path laid out by the Spot Bitcoin ETF. Progress toward such approval is expected to begin with the inclusion of the Solana Futures ETF, mirroring the precedent established by the Bitcoin and Ether Futures ETFs. This approach is intended to pave the way for the eventual approval of the Spot Solana ETF and signals the growing integration of traditional finance (TradFi) and altcoin markets.
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