BlackRock is seeking SEC approval to implement blockchain technology in fund management, potentially increasing financial adoption of this technology. They have submitted an application for a blockchain-based share class for their Treasury Trust Fund, utilizing Distributed Ledger Technology to enhance operational efficiency.
BlackRock's partnership with Bank of New York Mellon aims to streamline the management of shares without direct involvement in cryptocurrencies, focusing instead on existing fund operations.
The initiative reflects CEO Larry Fink's interest in integrating blockchain and digital asset technologies, aligning with BlackRock's history of innovation in finance. Furthermore, this move could drive institutional interest in Ethereum for asset tokenization.
Full story here: https://coincu.com/335302-blackrock-sec-blockchain-fund
