BlackRock Unveils Plans to Launch Stocks Leveraging Digital Ledger Technology (DLT)

# BlackRock Ventures into Blockchain with New DLT-Linked Money Market Fund BlackRock, the globe’s largest asset manager, is set to launch a share class for its money market fund leveraging Distributed Ledger Technology (DLT), reports Cryptopolitan. On April 29, BlackRock filed an initial investment prospectus with the U.S. Securities and Exchange Commission (SEC), signifying its ongoing interest in blockchain-driven financial products. This innovative DLT-linked share class will be associated with the BLF Treasury Trust Fund (TTTXX), which now oversees nearly $150 billion in assets. The fund primarily invests in U.S. Treasury securities, Treasury-backed financial instruments, and cash, presenting a highly secure investment option. BNY Mellon will handle the distribution of the DLT-based shares and maintain a duplicated ledger of transactions and share ownership through blockchain technology. However, BlackRock clarified that the fund isn’t currently integrating blockchain directly. The prospectus notes: “While the fund does not presently utilize blockchain technology or invest in crypto assets, intermediaries managing the fund’s shares plan to use blockchain tech to keep records of client share ownership.” This DLT-enhanced product will be available exclusively to institutional investors with a minimum investment of $3 million. The new share class’s ticker remains undetermined. The management fee is set at 0.18%. # BlackRock’s Blockchain Initiatives and Tokenized Finance Expansion This initiative highlights the enduring interest of traditional financial entities in adopting blockchain technology for innovative product offerings. BlackRock has already carved a niche in tokenized finance with “BUIDL,” a tokenized U.S. Treasury bond product. As the largest of its kind, BUIDL demonstrates the firm’s pioneering role in this emerging market. Larry Fink, BlackRock’s Chairman, has consistently emphasized blockchain and tokenization’s transformative potential, particularly in widening access to financial instruments for a broader investment audience. According to RWA.xyz platform data, BUIDL currently manages $2.556 billion in assets under management (AUM) and has seen over $600 million in net inflows in the past 30 days. With 70 investors, BUIDL’s success highlights strong institutional interest in tokenized financial products. Presently, the tokenized finance market boasts $6.16 billion in AUM across 44 products. Following BUIDL, Franklin Templeton’s BENJI ranks second with around $706.7 million. Other significant products like Superstate’s USTB, Ondo's USDY and OUSG, and Circle’s USYC each manage over $400 million in assets. Analysts consider the tokenized finance sector to be nascent but with significant growth potential. Standard Chartered’s report forecasts the tokenization market could hit $30 trillion by 2030. # Record Inflows for BlackRock’s Bitcoin ETF “IBIT” Separately, BlackRock’s Bitcoin spot ETF, IBIT, has marked impressive progress. On Monday, IBIT recorded its second-largest single-day inflow ever, with $970.9 million added. This spike contrasts with net outflows for competing products like Ark Invest’s ARKB ETF, Fidelity’s FBTC, and Bitwise’s BITB. On the day, IBIT secured a substantial $591.2 million, reinforcing its strong position in the Bitcoin ETF sector. Currently, IBIT manages over $50 billion in assets and has garnered more than $4.5 billion in investments since April 22. It now constitutes 51% of all capital allocated to spot Bitcoin ETFs, highlighting its dominance in the burgeoning cryptocurrency investment space. --- BlackRock’s diversified approach to blockchain technology, tokenized finance, and cryptocurrency products aligns with its commitment to innovation. With rising institutional interest and a growing market for blockchain-based financial solutions, BlackRock seems strategically placed to lead in this transformative domain.