BlackRock, in collaboration with Securitize (a British Virgin Islands asset tokenization leader), has announced the BlackRock USD Institutional Digital Liquidity Fund.
Securitize’s involvement is a hint that the focus of the fund may be on tokenizing The real world assets (RWA). This process involves representing the ownership of an array of assets using a Blockchain token. The practice is gaining popularity for its ability to improve asset liquidity and efficiency.
Announcement and SEC filing BlackRock’s fund has had an immediate effect on the market for digital assets. Ondo Finance‘s native token, ONDO, witnessed a surge of up to 22% in value, significantly outperforming Bitcoin (BTC). Ondo Finance runs a platform to support RWA. This shows the positive market reaction towards BlackRock’s RWA initiative.
Etherscan Circle USDC also showed a move of 100 million dollars stablecoin To an address associated with a Securitize deployer. It is believed that the motion represents a small investment in the fund. However, this connection has not yet been confirmed.
BlackRock continues to explore digital assets. It made news when the company listed a “spot-based” fund. Bitcoin ETF In January, the asset under management quickly grew to over $15 billion. A filing for Ether spot (ETHBlackRock made a blockchain ETF in the last year. This shows its deepening commitment towards integrating Blockchain technologies into their offerings.
BlackRock CEO Larry Fink stated in a CNBC January interview that BTC and ETH exchange-traded funds are the preliminary steps to a broader move toward asset allocation. tokenization. Fink believes that this is a direction the future of the financial The sector offers the prospect of faster settlements as well as enhanced operational efficiency.
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Source: crypto.news