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BlackRock Is Going Deeper On Digital Assets

March 21, 2024
x min read

The adoption of digital assets by institutions might soon be going well beyond just Bitcoin.

What’s happening:

  • BlackRock has filed with the SEC to launch a new tokenized asset fund known as the BlackRock USD Institutional Digital Liquidity Fund
  • The new fund has already been seeded with $100M USD through popular stablecoin USDC and is the first fund ever launched by BlackRock that is tokenized

Why it matters:

  • BlackRock’s spot Bitcoin ETF (NASDAQ: IBIT) has been the single largest purchaser of Bitcoin amongst all listed spot Bitcoin ETFs in the United States
  • BlackRock has continually been making moves to accelerate both the accessibility of digital asset ownership for institutions and the adoption of blockchain technology to disrupt the underlying framework of asset management

Going deeper:

  • The new fund from BlackRock is collaborating with digital asset tokenization company Securitize to conduct token sales
  • BlackRock’s new fund will be tokenized on the Ethereum blockchain and will have its own ERC-20 token

The intrigue:

  • BlackRock is also currently is waiting for approval from the SEC to launch their spot Ethereum ETF on a major United States stock exchange

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