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BlackRock claims tokenisation first

BlackRock claims tokenisation first

BlackRock, the world's largest asset manager, has taken its first step into the world of tokenisation.

The firm has launched its first tokenised fund on a public blockchain.

The BlackRock USD Institutional Digital Liquidity fund will be issued on the Ethereum blockchain.

The asset manager has partnered with digital assets firm Securitize for the fund launch and has also taken a minority share in the company. 

Registered in the Cayman Islands, the fund has a minimum investment level of $100,000.

The launch comes on the back of BlackRock's first spot bitocin ETF which debuted in February and had since gathered around $15bn in assets from investors.

Crypto funds have become a significant area of interest ever since the US Securities and Exchanges Commission approved the first batch of crypto-linked spot ETFs following legal appeals from various asset managers and crypto groups. 

Since then, the value of cryptocurrencies has risen as has the number of crypto ETFs launched in the US.

“This is the latest progression of our digital assets strategy,” said Robert Mitchnick, BlackRock’s head of digital assets. “We are focused on developing solutions in the digital assets space that help solve real problems for our clients, and we are excited to work with Securitize.”

“Tokenization of securities could fundamentally transform capital markets," added Securitize co-founder and CEO Carlos Domingo. 

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