BlackRock Introduces Its First Tokenized Fund to the Ethereum Network

Global asset management giant BlackRock is launching its first tokenized fund on the Ethereum network, bringing together the finance and cryptocurrency sectors. Called the BlackRock USD Institutional Liquidity Fund (BUIDL), the fund promises transparency and efficiency to institutional investors, backed by cash, U.S. Treasury bills and repurchase agreements.

Combination of finance and crypto sectors

The launch of the BUIDL fund reflects BlackRock's strategy to combine the traditional finance and cryptocurrency ecosystems. The fund aims to reduce friction by allowing traditional investors to easily access their on-chain funds.

The fund is represented by the Blockchain-based BUIDL token and has an extensive partnership network that includes leading financial institutions such as Securitize, BNY Mellon and cryptocurrency companies such as Anchorage Digital Bank NA, BitGo, Coinbase and Fireblocks.

The launch of the fund is seen as a test case that will enable institutional investors to enjoy the benefits of instant settlement and deliver capital efficiency, transparency and low costs.

Ethereum Blockchain's Choice

BlackRock's choice of Ethereum over private blockchain provides programmability and broad design space to enable seamless integration of tokenized funds with the stablecoin. The use of Ethereum as a public blockchain indicates that it could be a new area of ​​growth for asset management companies.

Bernstein's report predicts that as the cryptocurrency world develops, crypto asset management may evolve towards the development of multi-asset products rather than traditional investment funds.

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