BlackRock, the world's leading investment management company, announced the formation of a new digital assets fund through a filing with the US Securities and Exchange Commission (SEC). This fund, named BlackRock USD Digital
Liquidity Institutional Fund, is located in the British Virgin Islands and will launch in partnership with Securitize, a company specializing in tokenization. The fund has committed an initial investment of $100 million in Circle's USDC stablecoin, which uses the Ethereum platform.The launch of the fund follows BlackRock's recent advances in the digital assets space, including the launch of a bitcoin (BTC) exchange-traded fund in January, with more than $15 billion in assets under manage. Additionally, the company also proposed an ether (ETH) exchange-traded fund over the past year. Larry Fink, CEO of BlackRock, emphasized in an interview with CNBC that ETFs for BTC and ETH are just the first stepping stones towards the goal of tokenizing assets, a trend he believes is the future of the industry.
The new fund marks a major step forward in converting real-life assets into tokenized form, part of a burgeoning industry at the meeting point between digital assets and traditional finance. This involves moving traditional assets onto the blockchain to improve payment speed and operational efficiency. Reacting to this announcement, the price of the ONDO token, the native token of the Ondo Finance platform, increased by 20% and continued to increase by 12% over the next 24 hours, outperforming the CoinDesk 20 index and the bitcoin market price. large school.
