Bernstein: BlackRock Tokenization Fund Brings Legitimacy to Public Blockchain

Bernstein analysts say that BlackRock's planned tokenized fund will bring legitimacy to public smart contract chains such as Ethereum. BlackRock launched the BUIDL tokenized private equity fund earlier this month, which is another move into the digital asset field after launching the Bitcoin ETF. According to filing with the US Securities and Exchange Commission, BUIDL is a liquidity fund that invests in US Treasury bills, repurchase agreements (short-term borrowing agreements for government securities dealers), and cash, but does not provide a release date. Analysts explain that Anchorage, Coinbase, BitGo, and Fireblocks will become ecosystem partners promoting digital asset custody and settlement, while Bank of New York Mellon will promote interoperability with traditional markets through custody of fund assets. (TheBlock)