Blackrock the largest Blackrock wants to launch the DLT’s digital notebook technology for the Money Market Fund. The company presented the initial bulletin to the Securities and Stock Exchange Committee (SEC) on April 29.
According to presentationThe shares will track the Blackrock (TTTXX) BLF TERASURY TRUST box (TTTXX), a $ 150 billion fund that invests mainly in US Treasury bills, notes, cash, and other obligations issued and guaranteed by the US Treasury.
The company stated that the shares will be sold through Mellon Bank (BNY), while maintaining the mirror record for transactions and sharing ownership on Blockchain. However, he added that the box is not currently using Blockchain technology.
Initial reading Reading:
“Although the fund is not currently using Blockchain technology or invests in encryption assets, the financial broker through which shareholders buy and recover DLT shares intend to employ Blockchain technology to maintain a mirror record of shares ownership for its customers.”
It is not surprising that the product is only available to institutional investors with the minimum investment of $ 3 million to participate. The company has not yet proposed a Strait for DLT shares, but it has determined that the management fee will be 0.18 %.
The already distinctive cabinet is more than 6 billion dollars
The step by Blackrock highlights the continuous exploration of Blockchain technologies by traditional financial institutions to launch new products. Blackrock is already a major participant in this sector with the distinguished American cabinet product, Buidl, as the largest symbolic wardrobe product.
The company is optimistic about Blockchain technology and its symbol with the Chairman of the Board of Directors, Larry Fink, which determines the importance of the distinctive symbol in making financial products within the reach of investors.
According to data from rwa.xyzBuidl, which is the product of Sucuritize and Blackrock, currently has $ 2.55 billion of management assets (AUM) and has seen a net flow of more than $ 600 million in the last 30 days. With only 70 pregnant women, its performance picks strong attention to distinctive products, especially from institutional investors in the decentralized financing sector.
However, other distinctive cabinet products also attract great attention, even if they do not grow at a similar level like Buidl. In general, the sector now has $ 6.16 billion in AUM of 44 products.
The next product with the top AUM after Buidl is Benji Franklin Templeton, with $ 706.77 million. Others, such as Superstate USTB, ONDO USDY, OSG, and Circle usyc, also have more than $ 400 million in AUM.
Despite the growth of these products, many industry experts believe that this is still an early stage, and the sector is more growing. Legal experts expect that the distinguished code market may be worth $ 30 trillion by 2030.
Blackrock Ibit sees standard flows
Meanwhile, Buidl is not the only product related to Blackrock encryption that has enjoyed a great positive performance recently. The Bitcoin Company (ETF), IBIT, also registered its second largest daily flow since its launch, at $ 970.9 million on Monday.
Its flows on that day contradict the external flows of competing products, such as the ARK 21 participating ARKB, FBTC’s FBTC and Bitwise’s Bitb. However, IBIT’s performance was still sufficient to compensate for these external flows and a guarantee of $ 591.2 million of the clear flow of Bitcoin.
The product, which contains more than $ 50 billion in AUM, has made more than $ 4.5 billion in flows since April 22 and represents 51 % of the value of all investment funds circulated in Bitcoin.
Cryptopolitan Academy: soon – a new way to earn a negative income with Defi in 2025. Learn more
