BlackRock Launches Its First Tokenized Fund on the Ethereum Network

[bbc.reporter]

The new mayor of Bitcoin might also be chasing for the mayorship of Ethereum hehehe. I watched Larry Fink's interviews on CNBC and if he talks about Bitcoin and the cryptospace, it appears like he is someone similar to much of us when we first entered the cryptospace. He has full of inspiration on decentralization and blockchain technology and it also appears that he is ready to pump many tokens without doing any reseatch hehehe. However, the difference is he has billions to invest and he has the regulators in his pocket if he is scammed. He might not react similar to Mark Cuban.



BlackRock today unveils its first tokenized fund issued on a public blockchain, the BlackRock USD Institutional Digital Liquidity Fund (“BUIDL” or the “Fund”). BUIDL will provide qualified investors with the opportunity to earn U.S. dollar yields by subscribing to the Fund through Securitize Markets, LLC.

“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 remains a key focus of BlackRock’s digital asset strategy. Through the tokenization of the Fund, BUIDL will offer investors important benefits by enabling the issuance and trading of ownership on a blockchain, expanding investor access to on-chain offerings, providing instantaneous and transparent settlement, and allowing for transfers across platforms. BNY Mellon will enable interoperability for the Fund between digital and traditional markets.

Read in full https://www.businesswire.com/news/home/20240320771318/en/

[1714914987]

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[bbc.reporter]

There people in social media that are speculating that Blackrock's BUIDL will be something similar to a US treasury bond on the blockchain. If they are bringing real world assets on the blockchain, I reckon that we should not be shocked if Larry Fink's next move is to create a Blackrock stablecoin. This might be the Tether killer.

Do Kwon might be correct in attempting to create a algorithmic stablecoin, however, his design depended on a ponzi scheme with Anchor Protocol. However, there are other developers who are creating their own algorithmic stablecoin like Frax Finance.

[hugeblack]

BUIDL will provide qualified investors with the opportunity to earn U.S. dollar yields by subscribing to the Fund through Securitize Markets, LLC.

Have we entered the era of the private blockchain? Since the word qualified investors means that the token is subject to a specific category of investors and not everyone can use it, or is it just early investors whitelist?
Personally, I don't like organizations like BlackRock getting too involved in blockchain, they're too centralized and always strive to create money from money.

[Text]

Haha, love the joke about being the new mayor of Ethereum! While I don't know about skipping research, billionaires gotta be careful too!

Sounds like a step towards real-world assets on the blockchain, which could be huge. It not only demonstrates confidence in blockchain technology but also opens new avenues for investors to participate in the digital economy. Maybe BUIDL is just the first move. And a BlackRock stablecoin? Now that would be a game-changer, Tether could be sweating! It'll be interesting to see how these projects evolve and whether they can address the challenges associated with maintaining stability in the volatile crypto markets.

[Sophokles]

Is this a bullish news for eth community? Yeah i think so. This increases the adoption and trust throughout the industry. Also blackrock is using eth netwotk and they have also filed ETF application for eth so speculators will take it as a primary sign of the possibility of the eth etf approval. This will help the eth community to overcome and negative rumors about eth foundations.

[batang_bitcoin]

(“BUIDL” or the “Fund”)

LOL, if this doesn't have a meaning, we can conclude that he's got inspired by HODL. 

I reckon that we should not be shocked if Larry Fink's next move is to create a Blackrock stablecoin. This might be the Tether killer.

It's very likely that this is where it is heading. More of the stablecoins that have been competitive already and that's what he can do with this 'fund' thing. I am thinking that it's still a long way to go but knowing that this is Larry Fink and BlackRock, money matters with this and people are always putting their ears where the money talks are found.

[pawanjain]

BlackRock definitely has something in it's mind. First they get involved in crypto space by applying for bitcoin ETF then they apply for ethereum ETF and now the tokenized fund.
I must say, BlackRock is slowly tightening its grip in the crypto community and soon it will try to manipulate it to it's benefits.
Things will become more centralized and that is not good for the crypto community.

[electronicash]

Is this a bullish news for eth community? Yeah i think so. This increases the adoption and trust throughout the industry. Also blackrock is using eth netwotk and they have also filed ETF application for eth so speculators will take it as a primary sign of the possibility of the eth etf approval. This will help the eth community to overcome and negative rumors about eth foundations.

they'd be bringing more assets in ETH and likely if what @bbc.reporter said to be true that they'd be creating their stablecoin, the transactions would go wild. congestion is going to happen in ETH thus making the fees go haywire.

but yes this is going to be bullish. Blackrock being the largest fund investment company, they are going to bring lots of money into the market. they really go beyond what SEC doesn't want to happen. and this is in the middle of their lawsuit.

[bbc.reporter]

Haha, love the joke about being the new mayor of Ethereum! While I don't know about skipping research, billionaires gotta be careful too!

Sounds like a step towards real-world assets on the blockchain, which could be huge. It not only demonstrates confidence in blockchain technology but also opens new avenues for investors to participate in the digital economy. Maybe BUIDL is just the first move. And a BlackRock stablecoin? Now that would be a game-changer, Tether could be sweating! It'll be interesting to see how these projects evolve and whether they can address the challenges associated with maintaining stability in the volatile crypto markets.

Hehehe he is the new mayor of Bitcoin already but it also appears that he wants the mayorship of Ethereum also hehehehe.  On real world assets, agreed! Blackrock appears to already have a roadmap for this and we can be quite certain that this will not only be traditional financial assets and real estate, Blackrock might also issue their own stablecoin through a company of their creation.

I am not quite certain if many people have been paying attention, however, there were some people who have speculated that the next trending storyline will be real world assets on the blockchain.

https://bitcointalk.org/index.php?topic=5459374.0

[Kelward]

BlackRock definitely has something in it's mind. First they get involved in crypto space by applying for bitcoin ETF then they apply for ethereum ETF and now the tokenized fund.
I must say, BlackRock is slowly tightening its grip in the crypto community and soon it will try to manipulate it to it's benefits.
Things will become more centralized and that is not good for the crypto community.

Blackrock, is definitely up to something bigger in the crypto space, they probably want to have main stakes in top cryptocurrencies and they'll have certain autonomy over them, meaning that they can manipulate the decentralization of a coin like Bitcoin, to their advantage. But looking at it from the business angle, Blackrock, is now a pioneer in the adoption of cryptocurrency, more investors have entered the space and areas of making money have increased significantly, hopefully if Ethereum ETF is approved, it'll be another milestone for Blackrock, and investors.

[JeffBrad12]

I will say that tokenization is the future, honestly this step means a lot for crypto space to be honest the big boys are trying to leverage the tokenization to further enhance effectiveness of their product.
meanwhile those that don't seek advancement will be abandoned for real, this could allow easy access towards blackrock product for investment sake.
if im being honest, those company with their stocks should also start looking into building their tokenized stock so that the transparency can be taken care off and avoid corruption.

BUIDL will provide qualified investors with the opportunity to earn U.S. dollar yields by subscribing to the Fund through Securitize Markets, LLC.

Have we entered the era of the private blockchain? Since the word qualified investors means that the token is subject to a specific category of investors and not everyone can use it, or is it just early investors whitelist?
Personally, I don't like organizations like BlackRock getting too involved in blockchain, they're too centralized and always strive to create money from money.

private company leveraging public blockchain i don't think it causes the blockchain to be private by any mean not to mention they gonna pay validator fee for example if they used etheruem, i think there has been quite many consortium blockchain that could be considered private I guess since its controlled by certain private companies, but overall it seems this product only taking advantage of public blockchain for deployment of protocol or smart contract.

[bbc.reporter]

BlackRock definitely has something in it's mind. First they get involved in crypto space by applying for bitcoin ETF then they apply for ethereum ETF and now the tokenized fund.
I must say, BlackRock is slowly tightening its grip in the crypto community and soon it will try to manipulate it to it's benefits.
Things will become more centralized and that is not good for the crypto community.

Blackrock, is definitely up to something bigger in the crypto space, they probably want to have main stakes in top cryptocurrencies and they'll have certain autonomy over them, meaning that they can manipulate the decentralization of a coin like Bitcoin, to their advantage. But looking at it from the business angle, Blackrock, is now a pioneer in the adoption of cryptocurrency, more investors have entered the space and areas of making money have increased significantly, hopefully if Ethereum ETF is approved, it'll be another milestone for Blackrock, and investors.

I reckon the next speculation should be what cryptocoin is next to be supported by Blackrock and the next to have a spot ETF? I predict this to be Solana and this might make it pump higher than Binance smartchain in market capitalization. If their developers can fix Solana's network congestion and problems of going offline, might it be a possibility that SOL might also pump above Ethereum's market capitalization within 10 years?



Now, Solana has again surpassed Ethereum in other terms as it takes the lead in weekly stablecoin transfer volume. The investors chased yields, airdrops, and high returns from the memecoin buzz. The volume soared beyond $360 billion, overtaking the volume of Ethereum of around $150 to $153 billion.

With this, Solana accounts for nearly 42% of the total stablecoin market share, a significant rise from 1.9%, a year ago. This may also have a major impact on the SOL price, which is at the foothills of a major explosion.

Source https://coinpedia.org/price-analysis/after-dex-volume-solana-surpasses-ethereum-again-heres-where-the-sol-price-may-go-next/

[Bureau]

Is this a bullish news for eth community? Yeah i think so. This increases the adoption and trust throughout the industry. Also blackrock is using eth netwotk and they have also filed ETF application for eth so speculators will take it as a primary sign of the possibility of the eth etf approval. This will help the eth community to overcome and negative rumors about eth foundations.

The community did not react to this news as the price of ETH is still not going up. I do feel this will be an alternate route to use Ethereum blockchain wherein they would need to buy ETH. Ethereum ETF approval chances are very low and this might be the way for Blackrock to invest in ETH and generate revenue for themselves. I think the ETF of Litecoin might get approved before the Ethereum ETF, do not know how much will the market demand will be if it happens.

[pawanjain]

BlackRock definitely has something in it's mind. First they get involved in crypto space by applying for bitcoin ETF then they apply for ethereum ETF and now the tokenized fund.
I must say, BlackRock is slowly tightening its grip in the crypto community and soon it will try to manipulate it to it's benefits.
Things will become more centralized and that is not good for the crypto community.

Blackrock, is definitely up to something bigger in the crypto space, they probably want to have main stakes in top cryptocurrencies and they'll have certain autonomy over them, meaning that they can manipulate the decentralization of a coin like Bitcoin, to their advantage. But looking at it from the business angle, Blackrock, is now a pioneer in the adoption of cryptocurrency, more investors have entered the space and areas of making money have increased significantly, hopefully if Ethereum ETF is approved, it'll be another milestone for Blackrock, and investors.

I reckon the next speculation should be what cryptocoin is next to be supported by Blackrock and the next to have a spot ETF? I predict this to be Solana and this might make it pump higher than Binance smartchain in market capitalization. If their developers can fix Solana's network congestion and problems of going offline, might it be a possibility that SOL might also pump above Ethereum's market capitalization within 10 years?



Now, Solana has again surpassed Ethereum in other terms as it takes the lead in weekly stablecoin transfer volume. The investors chased yields, airdrops, and high returns from the memecoin buzz. The volume soared beyond $360 billion, overtaking the volume of Ethereum of around $150 to $153 billion.

With this, Solana accounts for nearly 42% of the total stablecoin market share, a significant rise from 1.9%, a year ago. This may also have a major impact on the SOL price, which is at the foothills of a major explosion.

Source https://coinpedia.org/price-analysis/after-dex-volume-solana-surpasses-ethereum-again-heres-where-the-sol-price-may-go-next/

Seems interesting but VCs already have a huge chunk of Solana coins along with them which already makes it more centralized.
If Blackrock decides to launch a SOL ETF it will either be an easy way for the VCs to exit since the liquidity will sucked up by Blackrock or the price will drive further upwards since ETF will boost the price thus making Solana more centralized than ever.

[hugeblack]

private company leveraging public blockchain i don't think it causes the blockchain to be private by any mean not to mention they gonna pay validator fee for example if they used etheruem, i think there has been quite many consortium blockchain that could be considered private I guess since its controlled by certain private companies, but overall it seems this product only taking advantage of public blockchain for deployment of protocol or smart contract.

Yes, but the blockchain will be centralized if there is a limited number of validators,like BSC Since the investment is closed to a specific category of investors, they can give them white addresses so that deposits or withdrawals are made only to those white addresses, which makes it a private blockchain.
Validators can also reverse any unwanted transaction, freeze or even stop the blockchain.

[GreatArkansas]

I'm just glad that institutions already adapting these innovations in cryptocurrency!
It seems before we are just beta testers, now these big institutions already using it and we are glad.

After this, for sure other will follows, it will spread like virus.

[bbc.reporter]

BlackRock definitely has something in it's mind. First they get involved in crypto space by applying for bitcoin ETF then they apply for ethereum ETF and now the tokenized fund.
I must say, BlackRock is slowly tightening its grip in the crypto community and soon it will try to manipulate it to it's benefits.
Things will become more centralized and that is not good for the crypto community.

Blackrock, is definitely up to something bigger in the crypto space, they probably want to have main stakes in top cryptocurrencies and they'll have certain autonomy over them, meaning that they can manipulate the decentralization of a coin like Bitcoin, to their advantage. But looking at it from the business angle, Blackrock, is now a pioneer in the adoption of cryptocurrency, more investors have entered the space and areas of making money have increased significantly, hopefully if Ethereum ETF is approved, it'll be another milestone for Blackrock, and investors.

I reckon the next speculation should be what cryptocoin is next to be supported by Blackrock and the next to have a spot ETF? I predict this to be Solana and this might make it pump higher than Binance smartchain in market capitalization. If their developers can fix Solana's network congestion and problems of going offline, might it be a possibility that SOL might also pump above Ethereum's market capitalization within 10 years?



Now, Solana has again surpassed Ethereum in other terms as it takes the lead in weekly stablecoin transfer volume. The investors chased yields, airdrops, and high returns from the memecoin buzz. The volume soared beyond $360 billion, overtaking the volume of Ethereum of around $150 to $153 billion.

With this, Solana accounts for nearly 42% of the total stablecoin market share, a significant rise from 1.9%, a year ago. This may also have a major impact on the SOL price, which is at the foothills of a major explosion.

Source https://coinpedia.org/price-analysis/after-dex-volume-solana-surpasses-ethereum-again-heres-where-the-sol-price-may-go-next/

Seems interesting but VCs already have a huge chunk of Solana coins along with them which already makes it more centralized.
If Blackrock decides to launch a SOL ETF it will either be an easy way for the VCs to exit since the liquidity will sucked up by Blackrock or the price will drive further upwards since ETF will boost the price thus making Solana more centralized than ever.

We can speculate on Solana, VC and decentralization, however, the only data that might make the argument on Blackrock creating a Solana spot ETF is the usage data. I reckon if something is popular enough for the community, it will also become popular for institutional investors. It appears that the people that creates attractors in the cryptospace is the community not the rulers. This is very much an opposite against traditional finance hehehe.

[bbc.reporter]

News update.

This is only the beginning. If this treasury market on the blockchain will become very successful, we can be quite certain that more markets from traditional markets will be created to use the blockchain. I reckon the next will be the real estate market and commodities. The cryoptspace the the oracles similar to Link to make this become reality.



The tokenized U.S. Treasury market is poised to reach $1 billion "very soon" given the growth of BlackRock's BUIDL, an analyst noted.

BlackRock's first tokenized asset fund is off to a strong start, garnering a significant market share of the blockchain-based tokenized U.S. Treasury market just a week following its debut.

Source https://www.coindesk.com/markets/2024/03/27/blackrocks-tokenized-fund-quickly-rakes-in-245m-right-behind-franklin-templetons-older-offering/