At Extreme Investor Network, we strive to provide our readers with the most up-to-date and valuable information on investing opportunities. Today, we are thrilled to share with you the latest news from BlackRock, one of the leading investment managers in the industry.
BlackRock has recently expanded its tokenized money market fund to include several more blockchains, offering investors even more opportunities to tap into the world of blockchain technology. The USD Institutional Digital Liquidity Fund (BUIDL) is now available on the Aptos, Arbitrum, Avalanche, OP Mainnet (formerly known as Optimism), and Polygon blockchains, in addition to its initial launch on Ethereum in March.
This fund, launched shortly after the successful introduction of the iShares Bitcoin Trust, allows investors to earn U.S. dollar yields through a blockchain-based vehicle. The concept of tokenizing “real world assets” such as gold has gained popularity in decentralized finance (DeFi) circles, appealing to financial institutions looking to leverage blockchain technology while mitigating risks associated with crypto assets.
Robert Mitchnick, BlackRock’s head of digital assets, highlighted the interesting juxtaposition of traditional finance and crypto technology in this venture. By tokenizing traditional finance investment exposure through Securitize, a company BlackRock has invested in, the BUIDL fund represents a harmonious blend of old and new financial paradigms.
The announcement of BlackRock’s expansion comes amidst a notable rally in cryptocurrencies following Donald Trump’s victory in the U.S. presidential election. Polygon’s token saw a 28% surge in value, reflecting the market’s optimism in a more crypto-friendly regulatory environment under a Trump administration.
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