Ethereum Celebrates a Major Victory as BlackRock Turns $150B Treasury Fund into Tokens

Ethereum recently gained a significant victory as BlackRock filed a prospectus to tokenize its $150 billion Treasury Trust fund into a new asset class known as "DLT Shares". Former Ethereum developer, Eric Connor, described it as the "biggest real-world asset flow to Ethereum yet".

The tokenization of the Treasury Trust Fund, which invests solely in short-term US Treasury securities, will be tracked using blockchain technology via BNY Mellon. BlackRock has previously launched a fund on the Ethereum blockchain and 93% of its assets are currently on Ethereum.

Despite this, Ethereum's price remains low, but institutions like BlackRock appear to be showing interest in the under-valued cryptocurrency.