Home BlackRock Launches Digital Asset Fund Backed By $100 mn On Ethereum

BlackRock Launches Digital Asset Fund Backed By $100 mn On Ethereum

By adminMarch 21, 2024, 5:54 AM1 Mins read314 Views

BlackRock Launches Digital Asset Fund Backed By $100 mn On Ethereum

BlackRock is launching a tokenized digital asset fund, the BlackRock USD Institutional Digital Liquidity Fund, in partnership with Securitize.

The fund was incorporated in the British Virgin Islands and will be launched in 2024. BlackRock’s Bitcoin ETF has been one of the best-performing Bitcoin products in 2024.

The company also has a pending application for a spot Ethereum ETHER (ETH) ETF, which the SEC is putting off approval of.

CEO Larry Fink stated that BTC and ETH ETFs are just stepping stones towards tokenization. BlackRock’s digital asset fund represents a major milestone for the tokenization of real-world assets, which is a growing sector in the intersection of digital assets and traditional finance.

Tokenization involves placing traditional assets on blockchain rails for faster settlements and higher efficiency.

(With inputs from Shikha Singh)

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