BlackRock, the world’s largest asset manager, has taken extra steps to include blockchain technology in its traditional financial activities.
According to a April 28 submit With the US Securities and Exchange Commission (SEC), the company is looking for approval to introduce a blockchain-compatible share class, referred to as “DLT shares”, linked to its $ 150 billion money market fund.
BlackRock’s DLT -shares
According to the submission, the Bank of New York Mellon (BNY Mellon) will manage the sale of these shares and keep a mirrored record of ownership using blockchain technology.
The submission stated:
“DLT shares can also be purchased by BlackRock Advisors, LLC or its affiliated companies. Although the fund currently does not employ blockchain technology or invests in crypto -activa, DLT shares are expected and kept through BNY, which is planning to keep a Spiegelrecord for its customer technology”
The submission did not mention the blockchain network that the bank would use. However, it has used Ethereum in the past.
In the meantime, the minimum investment for this new share class is $ 3 million. The fund will assign its assets to American treasury effects, including accounts, banknotes and similar obligations. It will focus on short-term investments, maintaining a dollar-weighted average duration of no more than 60 days and an average lifespan of less than 120 days.
BlackRock’s crypto embrace
The newest step from BlackRock reflects its increasing interest in blockchain technology, especially after the success of his bitcoin and Ethereum Exchange-Trade funds (ETFs) and Buidl Fund.
The unprecedented success of these products has led leaders in the industry to predict the long -term dominance for BlackRock’s ETFs.
Michael Saylor, executive chairman of Strategy (formerly Micro Strategy), recently suggested that the Ishares Bitcoin Trust (IBIT) of the company could recently become the largest ETF worldwide in the next ten years.
In addition to ETFs, BlackRock also actively works on assets -tokenization.
Blackrock CEO Larry Fink has sketched A vision in which all assets, including shares and real estate, are digitized and handled via blockchain.
According to him:
“Some investments yield much higher return than others, but only large investors can get in. One reason? Friction. Legal, operational, bureaucratic. Tokenization -strips that are gone, giving more people access to a possible higher return.”
BlackRock already uses these ideas through the Blockchain-Native Buidl Fund, which was launched in collaboration with Securitize in 2024.
The fund manages more than $ 2.5 billion in Tokenized Activa and has extended the activities to various blockchain networks, including Solana, Avalanche and Ethereum Layer-2 networks such as optimism.
