Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Investment management giant BlackRock (BLK) has launched a tokenized asset fund, as revealed in a filing with the U.S. Securities and Exchange Commission (SEC).
The fund has been kickstarted with an initial deposit of $100 million in USDC stablecoin on the Ethereum Network, marking BlackRock’s foray into the world of tokenized investment vehicles.
BlackRock holds exactly 2 (two) assets on the Ethereum Blockchain
1. USDC
2. Mog Coin (Mog) pic.twitter.com/OTdgE2UfMR— Viro ꙰ (@virotechnics) March 19, 2024
BlackRock partnership wth Securitize
The BlackRock USD Institutional Digital Liquidity Fund, incorporated in the British Virgin Islands, is set to be launched in collaboration with Securitize, a leading tokenization firm.
Wallet data from Etherscan confirms BlackRock’s deposit of Circle’s USDC stablecoin into a wallet on the Ethereum Network, signaling the fund’s activation.
BlackRock driving towards tokenization
BlackRock’s move towards tokenization aligns with CEO Larry Fink’s vision for the future of finance.
In a January interview with CNBC, Fink emphasized the importance of tokenization, stating that BTC and ETH ETFs are just the beginning. Now, with the launch of the digital asset fund, BlackRock is taking a definitive step towards embracing tokenization in asset management.
The post BlackRock launches tokenized digital asset fund with $100 million USDC deposit appeared first on Invezz
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.