BlackRock Seeds Ethereum-Backed Digital Liquidity Fund With $100 Million

[Peter90]

To be clear, this is not a ETH ETF, this is a "normal" fund containing "normal" financial assets which will be tokenized on the Ethereum blockchain with an ERC-20 token called BUIDL.
In other words - as far as I understand it - this has nothing to do with ETH the cryptocurrency, it's about the Ethereum blockchain.


BlackRock Seeds Ethereum-Backed Digital Liquidity Fund With $100 Million

"BlackRock’s spot Bitcoin exchange-traded fund was among the first to receive SEC approval in January. Its CEO Larry Fink, who has been generally bullish about BTC, with reservations, told Bloomberg just after the ETF approval:
"We believe the next step going forward will be the tokenization of financial assets, and that means every stock, every bond […] will be on one general ledger.”
“Every investor, you and I, will have our own number, our own identification. We could rid ourselves of all issues around illicit activities about bonds and stocks and digital by having a tokenization,” Fink added.

...the bottom line is that while Bitcoin was the pioneer in Wall Street's institutionalization race, having seen the startling success of bitcoin ETF adoption, the financial titans including Goldman, Blackrock - and now - JPM, have set their sights on what comes next, which is something near and dear to the people who manage trillions: the fastest, cheapest and most effective way to tokenize everything, from information, to data, to money itself. And they have picked the token to do it with."

zerohedge.com