According to Blockworks, BlackRock, the world's largest asset manager, is set to further its involvement in the tokenization sector. This follows its lead in a $47 million funding round for Securitize, a firm specializing in the tokenization of physical and traditional financial assets. The two companies have previously collaborated, with BlackRock launching its first tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund, in March. This fund offers an alternative method for earning US dollar yields and is available to qualified investors via Securitize Markets.

Tokenization has been gaining traction among fintech firms and traditional finance giants, who note that blockchain technology can enhance transparency and reduce costs. BlackRock's CEO, Larry Fink, has referred to tokenized securities as 'the next generation for markets.' Joseph Chalom, BlackRock’s global head of strategic ecosystem partnerships, echoed this sentiment, stating that tokenization could significantly transform capital markets infrastructure. Chalom, who has now joined Securitize's board of directors, described the investment in Securitize as a step forward in BlackRock's digital assets strategy.

Other participants in the funding round included Hamilton Lane, ParaFi Capital, and Tradeweb Markets. Hamilton Lane, a private markets investment firm, had earlier in January 2023 made one of its equity funds available through a Securitize feeder fund tokenized on Polygon.

The crypto market structure has improved immensely over the last few weeks. Although not explosive, the largest crypto, Bitcoin, boasts a 54.4% growth in the last 30 days, bringing its cumulative yearly gain to 63.5%.

Bitcoin’s bullish outlook, which firmly steadied in June, has continued into July, and according to market insights, it could propel BTC to $38,000.

Based on live data from CoinGape, Bitcoin price is up 1.4% on the day, but of more importance, bulls have reclaimed resistance at $31,000 and are working on closing the gap to the next hurdle at $32,000.

Bitcoin Price Triumphs As Selling Pressure Dwindles

As discussed in our previous analysis, Bitcoin price was riding on a wave of several buy signals, starting with the Moving Average Convergence Divergence (MACD) indicator. In addition to flashing a buy signal in June, with the MACD line in blue crossing above the signal line in red, the momentum indicator crossed above the mean line, reinforcing the bullish outlook.

Subsequently, the SuperTrend indicator also flipped below Bitcoin price, thus validating the breakout from $25,000. This indicator overlays the chart like moving averages but goes a step further to gauge the volatility in the market by incorporating readings from the average true range (ATR).

Bitcoin will keep the uptrend intact as long as the SuperTrend indicator maintains its position below the price. Traders would anticipate an opposite reaction, with BTC cooling off if the volatility index flips above the price.

Notably, a daily close above $31,000 will go a long way to keep Bitcoin’s uptrend grounded. In other words, investors are likely to keep buying BTC if the elusive support at $31,000 obliges in the coming sessions.

On the other hand, a breakout above $32,000 would be another signal that Bitcoin price is finally on a trajectory to close the distance to two key levels: The stubborn seller congestion at $35,000 and the psychological resistance at $38,000.

On-chain insights from Santiment, a leading analytics platform, show that investor confidence has been increasing at a commendable rate, sparking interest in BTC accumulation.

However, “trader profits for BTC are a bit on the high end, which implies there could be a cooldown.”

With that in mind, it would be prudent to tread carefully while keenly watching Bitcoin’s reaction to major price points like the recently reclaimed $31,000 and the subsequent hurdle at $32,000.

A break above $32,000 could be a game changer and open the door for gains targeting $38,000. On the other hand, rolling back under $31,000 would mean that bulls are accepting defeat. This may encourage bears to double down their efforts and eventually push BTC below $30,000 with $25,000 beckoning.

Blacklock Refiles Spot Bitcoin ETF

According to a Bloomberg report, Blackrock has resubmitted its spot Bitcoin exchange-traded fund (ETF) to the US Securities and Exchange Commission (SEC) proposal via Nasdaq.

The new filings were made with the SEC on Monday, highlighting that Coinbase Global Inc. will play a pivotal role in market surveillance for the proposed ETF by the world’s most colossal asset manager.

This development came in response to the regulatory body’s previous assertion that the original filings lacked comprehensive and required details.

Companies interested in offering a BTC ETF had last week amended their proposals to provide more details, including VanEck and Fidelity Investments.

If approved, a spot Bitcoin ETF will be a gateway for institutional investors to participate in the crypto market, which many believe will fuel the next bull market.

#REXBOX #BTC #BLACKROCK

$BTC

The entire globe has jumped on the central bank digital currency [CBDC] wagon. India has been making strides in the same. Now, it seems to be receiving aid from Asia’s richest man, Mukesh Ambani, and his company Reliance Industries Ltd. At Reliance’s yearly general meeting, Ambani spoke about CBDCs. He confirmed that the company’s financial services arm, Jio Financial Services [JFS], will delve into cutting-edge technologies like blockchain-powered platforms and CBDC to enhance its offerings. JFS was launched earlier this month. He further said,

“JFS products will not just compete with current industry benchmarks but also explore pathbreaking features such as blockchain-based platforms and CBDC. They will adhere to the highest standards of security, regulatory norms and ensure protection of customer transaction data at all times.”

During the initial trial phase in February 2023, another division of Reliance, namely Reliance Retail, commenced the acceptance of India’s CBDC. It should be noted that it happened to be the country’s largest retail chain. However, the recent announcement further indicated an elevated level of interest in this domain. Reliance, under Ambani’s leadership, has held a significant role in India’s digital advancement narrative. Its recent expansion into CBDCs and blockchain is expected to boost the usage of the digital rupee.

Jio x BlackRock

Larry Fink, the CEO of the global asset management firm BlackRock, also appeared in the meeting. He stated that Jio Financial Services and BlackRock will collaborate to introduce investment solutions that prioritize digital platforms in the Indian market. Fink said,

“JFS and BlackRock together aim to transform through digital-first offering and democratization of access to affordable investment solutions throughout India.”

Fink further emphasized the ongoing shift in consumer behavior. He noted that people are progressively transitioning from unmanaged tangible assets to embracing prospects for savings and investments. He envisions that this pattern will gain further momentum with the growth of per-capita GDP. Alongside, the continuous advancement of technology and fostering greater digital inclusivity are also pertinent.

#JIO #BLACKROCK #CBDC

Today I prepared an article about tokens that are in check list for BlackRock tokenisation project. For now it is only a speculation about tokens we know that BTC and ETH are already in their radar but anyway it's better be ready then sorry.
Asset management giant BlackRock (BLK) officially unveiled its tokenized asset fund on the Ethereum network on Wednesday.
The BlackRock USD Institutional Digital Liquidity Fund is represented by the blockchain-based BUIDL token, is fully backed by cash, U.S. Treasury bills, and repurchase agreements, and will provide yield paid out via blockchain rails every day to token holders, according to a press release
Securitize will act as a transfer agent and tokenization platform, while BNY Mellon is the custodian of the fund's assets, BlackRock said. Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks also participate in the fund's ecosystem
While specific altcoins have not been officially disclosed, speculation includes prominent names like Bitcoin, Ethereum, Cardano, Elrond( EGLD), Cosmos(ATOM), Aave, and Uniswap(UNI)
I already post articles about BTC, ETH and ADA so I will not introduce them in this article but you are welcome to read about them after you finished with this one but for the others I prepared some information about them just so that you get familiarised, entry levels and my exit strategy. As you know we will deal with big player in this occasion and they are always paying themselves and as you should do to
What Is MultiversX (EGLD)?
MultiversX is a blockchain protocol that offers true horizontal scalability by using all aspects of sharding (Network, Transaction & State). The project describes itself as a technology ecosystem for the new internet, which includes decentralized finance, real world assets and the Metaverse. Its smart contracts execution platform is reportedly capable of up to 100,000 transactions per second, 6-second latency and a $0.002 transaction cost
MultiversX is governed and secured through the EGLD token. EGLD, or Electronic Gold, is MultiversX's native token. It acts as a store of value currency to pay for network usage. The coin also serves as a medium of exchange between platform users and validators. Users pay transaction fees in EGLD and validators participate in the consensus process
As always in green are my entrys and in red is points where I will take a bit liquidity of this project
What Is Cosmos (ATOM)?
In a nutshell, Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains
The project’s other goals include making blockchain technology less complex and difficult for developers thanks to a modular framework that demystifies decentralized apps. Last but not least, an Interblockchain Communication protocol makes it easier for blockchain networks to communicate with each other — preventing fragmentation in the industry
For full disclosure I don't own any ATOM for now but since I heard that information I will put some money in and have a little exposure
What Is Uniswap (UNI)?
Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens
An example of an automated market maker (AMM), Uniswap launched in November 2018, but has gained considerable popularity this year thanks to the DeFi phenomenon and associated surge in token trading
Uniswap aims to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading versus that on traditional exchanges
Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralized exchanges
Although they are in lawsuit with SEC I am still a big fan of this decentralized exchange (DEX) and I think that after they won we will see a big explosion of price and have nice gains
Aave Explained
Aave is a decentralized cryptocurrency platform that allows users to borrow and lend crypto. Aave uses smart contracts to automate the process, with preset rules on how funds are distributed, how collateral is handled, and how fees are assessed
Aave specializes in overcollateralized loans, meaning that users will need to deposit crypto worth more than the amount that they wish to borrow. This protects lenders from losing money due to loan defaults and allows the Aave protocol to liquidate the collateral if it drops too much in value
You can read and learn more about this lending platform in this link https://aave.com/
I think that this project and UNI have the biggest potential in the future. If nothing else they already have infrastructure in place and it is just a matter of time when people will start using it again
Hope you enjoyed the reading. Tell me if you heard any other information about what projects is BlackRock interested in
Stay safe trade well and always pay yourself specially if you have big player against you. Don't want anybody to be his exit liquidity
Happy holidays and Mad love and respect #BLACKROCK #BTC #ETH #AaveProtocol #EGLD