Bernstein: BlackRock's tokenization fund will bring "legitimacy" to public blockchains

2024-03-26 22:16:39

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ChainCatcher news, Bernstein analysts stated that the tokenized fund planned by BlackRock will bring "legitimacy" to public smart contract chains like Ethereum.

Earlier this month, BlackRock launched the BUIDL tokenized private equity fund, marking another move into the digital asset space following the introduction of the spot Bitcoin ETF. According to filings with the U.S. Securities and Exchange Commission, BUIDL is a liquidity fund that invests in U.S. Treasury bills, repurchase agreements (short-term borrowing agreements for government securities dealers), and cash, but no launch date has been provided.

Analysts explained that Anchorage, Coinbase, BitGo, and Fireblocks will become ecosystem partners facilitating digital asset custody and settlement, while BNY Mellon will promote interoperability with traditional markets by custodial fund assets.

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