BlackRock, the world’s largest asset manager, announced the launch of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
The fund in question is Ethereum It will run on blockchain and consist of tokenized assets.
The SEC delayed its decision on BlackRock’s Ethereum ETF application after greenlighting several Bitcoin ETFs in January.
BlackRock’s legendary founder and CEO Larry Fink said the following in his previous statements to CNBC:
“We believe this is just the beginning. ETFs are the first step in the technological revolution in financial markets. The second step will be the tokenization of every financial asset.
If you had a tokenized security…as soon as you buy or sell an instrument, it would be known to be on a public ledger that is all created together. This eliminates all corruption by having a tokenized system.”
Bitcoin And cryptocurrencies Blockchain technology allows traditional assets to be “tokenized” on a public ledger, potentially making it cheaper and easier to transfer everything from stocks and bonds to real estate and alternative investments like art.
*This is not investment advice.
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