According to reports from Wu, BlackRock has submitted an application to the U.S. Securities and Exchange Commission to create a blockchain-based stock category, labeled DLT. DLT will utilize blockchain technology to record stock ownership or streamline the operations of money market funds. The fund invests in high-quality short-term U.S. Treasury securities. Bank of New York Mellon will serve as the intermediary to manage the sale of these stocks, with a minimum transaction amount of $3 million.

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