According to Bloomberg, BlackRock has submitted an application to the U.S. Securities and Exchange Commission (SEC) to create a blockchain-based stock class for the BlackRock BLF Treasury Trust Fund, labeled as DLT, which stands for Distributed Ledger Technology. DLT aims to leverage blockchain technology to record stock ownership or streamline certain fund operations of money market funds that invest in high-quality short-term U.S. Treasury securities. BNY Mellon will act as an intermediary to manage the sale of these stocks, with a minimum transaction amount of $3 million.