Blackrock Plans Tokenization of $6.1B Fund on Ethereum
- Blackrock has filed to tokenize its $6.1 billion Blackrock Select Treasury Based Liquidity Fund (BSTBL) on Ethereum.
- The fund invests in U.S. Treasury bills, notes, and other short-duration securities with maturities of up to 93 days.
- Targeting stablecoin investors, the product aims to provide yield opportunities within the blockchain ecosystem.
- Blackrock’s BUIDL fund has grown to over $2.50 billion AUM across eight blockchains, including Ethereum, BNB Chain, and Avalanche.
- Ethereum holds over $8.0 billion in tokenized treasuries as of May.
The move by Blackrock represents a significant step towards integrating traditional finance with blockchain technology by targeting stablecoin investors who seek higher yields from their digital assets.
With SEC approval pending, Blackrock’s initiative could significantly impact the stablecoin market valued at over $320 billion globally by offering regulated money-market instruments in a blockchain-native format.(Source)
