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BLK has generated a BlackRock USD Institutional Digital Liquidity Fund in the British Virgin Islands, which will be released together with Securitize, an asset tokenization company. BlackRock falls under the big-time investment management players, and they have filed their fund documents with the U.S. SEC.
However, the document did not divulge the kind of assets the fund will contain. Still, considering Securitize being involved, it is presumed to be connected with the tokenization of real-time assets or RWA. This is an industry term that stands for an entire array of assets via a token on a blockchain.
Following the filing by BlackRock, the conventional token of Ondo Finance, ONDO, increased by 20% and has reached 12% more in the last 24 hours. It has overtaken the CoinDesk 20 Index (CD20) and Bitcoin (BTC). Incidentally, Ondo is known to operate a RWA platform.
As per observers, blockchain data displays that $100 million in Circle’s USDC stablecoin on the Ethereum network was shifted to an address connected with a Securitize deployer, signifying a seed investment into the fund.
This situation comes after BlackRock entered into digital asset funds, having registered a spot-Bitcoin ETF in January. This collected more than $15 billion worth of assets under control. Additionally, the business filed for a spot Ether ETF in 2023.
According to the CEO of BlackRock, Larry Fink, BTC and ETH are paving the way for tokenization, and in his firm belief, that is the future for sure.
The tokenization of real-time assets is increasing its reach at the crossroads of digital assets and conventional finance, which comes with positioning conventional assets on blockchain to gain quicker settlements and further effectiveness.