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The 150 billion USD BlackRock fund applies blockchain.
BlackRock Launches DLT Shares
BlackRock, the leading asset manager, has filed with the SEC to launch a blockchain-based digital stock class called DLT Shares for the $150 billion Treasury Trust Fund. DLT Shares will be sold exclusively through BNY Mellon, which plans to use blockchain technology to track ownership. This new product targets institutional investors, requiring a minimum investment of $3 million.
Blockchain Applications in Liquidity Funds
The Treasury Trust Fund holds most of its assets in highly liquid investments, such as cash and short-term government securities, in order to maintain a value of 1 USD per share. This system may be an initial test step for the application of blockchain in cryptocurrencies or cash transactions in the future.
Future Tokenization in Finance
BlackRock’s move aligns with CEO Larry Fink’s remarks that tokenization could transform the investment industry. Fink believes that tokenization can accelerate transactions, eliminate delays, and facilitate rapid reinvestment into the economy. However, the biggest challenge remains the lack of comprehensive identity verification.
Movements of Large Companies
Not only BlackRock, but other large companies such as JP Morgan, State Street, and Franklin Templeton are also exploring blockchain to develop Tokenized funds. The goal is to build a new financial ecosystem that is more flexible, optimizing costs and transaction times, while ensuring transparency and security.
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