🐬 Black Rock big new in crypto currency
BlackRock has not introduced a new cryptocurrency of its own. However, the firm has been actively expanding its involvement in the digital asset space through various initiatives:
iShares Bitcoin Trust (IBIT): BlackRock launched the iShares Bitcoin Trust ETF, providing investors with direct exposure to Bitcoin through a traditional exchange-traded product. This ETF has seen significant growth, amassing net assets of $57.5 billion as of February 2025.
Tokenized Money Market Fund (BUIDL): In March 2024, BlackRock introduced its first tokenized product, BUIDL, which is backed by short-term U.S. government bonds. Initially launched on the Ethereum blockchain, BUIDL has expanded to other networks, including Aptos, Arbitrum, Avalanche, Optimism's OP Mainnet, and Polygon, becoming the largest product in the $2.3 billion tokenized U.S. Treasury market.
Bitcoin and Ethereum ETFs: BlackRock has also launched the iShares Ethereum Trust ETF, offering investors exposure to Ether, the native token of the Ethereum network. Through this ETF, BlackRock holds approximately 993,591.95 ETH, valued at around $3.5 billion, representing about 0.12% of the total Ether supply.
These developments reflect BlackRock's strategic move into the cryptocurrency and digital asset markets, providing traditional financial products that offer exposure to these emerging asset classes.
