Source: Cointelegraph
Original: “BlackRock Files to Launch Digital Shares Tracking Its Money Market Fund”
Asset management company BlackRock has submitted an application to create digital ledger technology shares based on one of its money market funds, which will utilize blockchain technology to maintain equity mirror records for investors.
In the Form N-1A document submitted to the U.S. Securities and Exchange Commission on April 29, BlackRock stated that the DLT shares will track the BlackRock BLF Treasury Trust Fund (TTTXX), which can only be purchased through BlackRock Advisors and BNY Mellon.
The money market fund holds over $150 million in assets, almost entirely invested in U.S. Treasury securities and cash.
BlackRock indicated that these shares "are expected to be purchased and held through BNY Mellon, which plans to use blockchain technology to maintain equity mirror records for clients."
Unlike the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), the DLT shares will not be tokenized but will serve as a transparency tool for verifying ownership.
BlackRock will continue to maintain traditional bookkeeping records as the official ownership ledger.
The filing did not specify a code for the DLT shares or set a management fee.
The minimum initial investment requirement for institutional investors to purchase these digital shares is $3 million worth of DLT shares.
This move by BlackRock follows Fidelity's application submitted on March 21, which seeks to list Ethereum-based OnChain share classes aimed at tracking the Fidelity Treasury Digital Fund (FYHXX)—a fund with a size of $80 million, almost entirely composed of U.S. Treasury securities.
Although the application for the OnChain share class is still pending regulatory approval, Fidelity expects it to take effect on May 30.
Wall Street Giants Continue to Explore Blockchain Use Cases
In recent years, asset management companies have increasingly turned to blockchain for the tokenization of Treasury securities, bonds, and private credit.
According to data from rwa.xyz, the current market value of the Treasury tokenization market is $6.16 billion, with BlackRock's BUIDL leading at $2.55 billion, while Franklin Templeton's Franklin OnChain US Government Money Fund (BENJI) holds over $700 million in real-world assets.
Ethereum (ETH) remains the preferred blockchain for the tokenization of Treasury assets, currently hosting tokenized Treasury assets valued at over $4.55 billion, while Stellar and Solana rank second and third with $474.9 million and $274.5 million, respectively.
The potential for real-world asset (RWA) tokenization has also been praised by BlackRock CEO Larry Fink, who believes this technology could bring revolutionary changes to the investment field.
Related: U.S. Treasury's Office of Foreign Assets Control (OFAC) request to reinstate Tornado Cash sanctions dismissed by judge.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
