Summary
- BlackRock said it plans to pursue the tokenization of a Bitcoin (BTC) ETF.
- BlackRock said it is reviewing the implementation of an on-chain physical asset fund, 24-hour ETF trading, and the potential use of crypto assets as collateral.
- The industry expects this plan to narrow the boundary between traditional financial products and digital assets markets and enable more efficient and transparent trading.
On the 11th (local time), Bloomberg reported that the world's largest asset manager BlackRock is planning to pursue the tokenization of a Bitcoin (BTC) exchange-traded fund (ETF) based on the ETF's success.
BlackRock aims to implement physical asset funds, including equity-linked funds, on-chain. Furthermore, it is reviewing the concept as a potential testbed to enable 24-hour ETF trading, increase global accessibility, and allow use as collateral within the crypto asset ecosystem.
Although specific timelines or structures have not yet been disclosed, the industry expects this plan to further narrow the boundary between traditional financial products and the digital asset market.
If tokenization materializes, investors are expected to be able to trade ETFs more efficiently and transparently on a blockchain.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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