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🚨🚨BlackRock Boosts Bull Run with Ethereum Asset Tokenization Move!
BlackRock's entry into asset tokenization with the BlackRock USD Institutional Digital Liquidity Fund on Ethereum is a game-changer for the bull run.
This move highlights the fusion of traditional finance and blockchain, signaling transparent and lucrative investment opportunities. With strategic investments in Securitize and key partnerships, BlackRock paves the way for a vibrant tokenized asset ecosystem.
Joining the likes of Citi and JPMorgan, this trend amplifies the allure of digital assets, fueling growth and innovation.
BlackRock Enters Asset Tokenization Race With New Fund on the Ethereum Network
BlackRock to start a new real-world asset (RWA) tokenization fund on the Ethereum network.
The asset management giant also made strategic investments in asset tokenization company Securitize.
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.
BlackRock also made a "strategic investment" in Securitize, the press release added, but the terms of the deal weren't disclosed.
"This is the latest progression of our digital assets strategy," said Robert Mitchnick, BlackRock’s Head of Digital Assets. "We are focused on developing solutions in the digital assets space that help solve real problems for our clients, and we are excited to work with Securitize."
The announcement came after a regulatory filing revealed that BlackRock incorporated a fund with Securitize, spurring speculations of a tokenized fund as observers pointed to blockchain transactions to seed the vehicle, CoinDesk reported Tuesday.
BlackRock is the latest traditional finance giant to enter the tokenization field after Citi, Franklin Templeton and JPMorgan have already made headways with the technology. Creating blockchain-based tokens of traditional investments such as bonds and funds – known as tokenization of real-world assets (RWA) – is a fast-growing use case for blockchains as digital assets and traditional finance (TradFi) are becoming more intertwined. Tokenized U.S. Treasuries, for example, have grown to $730 million from $100 million in early 2023 as crypto firms seek to earn a steady yield by parking their on-chain funds.
BlackRock CEO Larry Fink said earlier this year in a CNBC interview that the company's spot BTC ETF was "stepping stones towards tokenization."
Read more: The Tokenization of Real-World Assets (RWA) Explained
$BTC 🚀💰 Wondering how to make the most out of the upcoming halving event in Bitcoin and other cryptocurrencies?
Consider Dollar-Cost Averaging (DCA)!
DCA involves regularly investing a fixed amount of money at scheduled intervals, regardless of the asset's price. This strategy can help mitigate market volatility and take advantage of price fluctuations over time.With the next halving approaching, DCA can be a game-changer. Historically, halving events have often led to increased demand and price surges in the long term.
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BlackRock Receives Memecoins, NFTs After Depositing $100M USDC Onchain
Asset managment giant BlackRock is now the owner of at least $40,000 in memecoins and nonfungible tokens (NFTs), after onchain sleuths sniffed out one of its supposed wallets connected to a new tokenization fund.
Data shows a $100 million USD Coin (USDC) deposit was made on Ethereum on March 15 — exactly one day after the firm made a filing to offer its BlackRock USD Institutional Digital Liquidity Fund via a partnership with San Francisco-based asset tokenization firm Securitize.
USDC deposits toBlackRock’s digital asset fund. Source: Etherscan
Unnamed crypto users have sent at least 40 coins and 25 NFTs to the BlackRock-labeladdress since March 19, ranging from Bitcoin-based Ordinals Pepe (PEPE) coin to a CryptoDickbutts S3 NFT.
Exactly 500,000 unshETHing_Token (USH) and 10,000 Realio Network (RIO) tokens were also transferred to the $10 trillion asset manager, which boasted the largest values at $13,755 and $11,600 respectively.
Interestingly, the RIO token is a real-world asset tokenization coin which has pumped 47% since the token was transferred to BlackRock, according to CoinGecko.
The Larry Fink-led firm also received large quantities of Mog Coin (Mog) VoldemortTrumpRobotnik-10Neko (ETHEREUM) and Shina Inu (SHI).
Source: @martypartymusic on X
Chungos and KaijuKingz were among the most notable NFTs sent through to the asset manager.
Chungos #972 NFT sent to BlackRock. Source: Etherscan
Data shows the BlackRock address first made a $200 USDC deposit on March 5. The firm then made another $10 test deposit on March 15 before depositing $99,999,960 a few blocks later, according to Etherscan.
Related: JPMorgan debuts tokenization platform, BlackRock among key clients: Report
BlackRock’s Fink has changed his stance on Bitcoin (BTC) and the blockchain industry since 2017, where he previously referred to Bitcoin as an “index of money laundering.”
His views changed considerably since and BlackRock filed for a spot Bitcoin exchange-traded fund (ETF) in June 2023, which has since been approved and is capturing some of the largest volumes in the entire ETF market.
Fink and BlackRock are now looking to tokenize financial assets on Ethereum.
“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,” Fink said in a recent Bloomberg interview.
The BlackRock USD Institutional Digital Liquidity Fund will be tickered “BUIDL.”
It will provide eligible investors with the opportunity to earn U.S. dollar yields by subscribing to the Fund through Securitize Markets, LLC.
Magazine: Block by block: Blockchain technology is transforming the real estate market
$BTC 🚨🚨MicroStrategy achieved a significant crypto milestone by purchasing $623 million worth of bitcoin, increasing its total holdings to 214,246 bitcoins, which is more than 1% of the total bitcoin supply. This purchase marks a major achievement for MicroStrategy, led by bitcoin enthusiast Michael Saylor, making it the largest publicly-traded company in terms of bitcoin ownership.
Between March 11, 2024, and March 18, 2024, MicroStrategy acquired 9,245 bitcoins valued at approximately $623 million, paying an average of $67,382 per bitcoin, including fees. The funding for this purchase included $30.7 million in cash and $592.3 million from the private sale of convertible senior notes that MicroStrategy offered earlier in the month specifically for buying more bitcoin.
Michael Saylor has expressed optimism for bitcoin in 2024, citing factors like the upcoming bitcoin halving and the strong inflows into newly listed spot bitcoin exchange-traded funds (ETFs). Bitcoin recently reached an all-time high of $73,798, indicating increasing confidence in this volatile asset.
Saylor, a long-time advocate for bitcoin, predicted continued institutional interest in the asset class even before the U.S. Securities and Exchange Commission approved spot ETFs in January, suggesting significant growth potential ahead. Are you as bullish as Saylor? #MichaelSaylorBTC #HotTrends #BTC🔥🔥🔥🔥 #MicroStrategу #bullrun
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Bitcoin's impending halving event, slated for next month, has sparked anticipation among cryptocurrency enthusiasts. This event, reducing Bitcoin creation rates, historically precedes bull runs, with investors eyeing the potential impact of Exchange-Traded Funds (ETFs).
ETFs offer a regulated avenue for investors to gain exposure to Bitcoin, attracting institutions seeking hedging options against inflation and economic uncertainty. This institutional interest, coupled with the macroeconomic backdrop favoring Bitcoin as digital gold, sets the stage for potential price surges post-halving.
However, caution is advised due to cryptocurrency volatility and regulatory uncertainties surrounding ETFs. Investors must stay informed, diversify portfolios, and adopt risk-aware strategies amidst this evolving landscape.