BlackRock Allegedly Set to Launch Its Own Blockchain Network
BlackRock is reportedly exploring a blockchain project that could revolutionize its $10 trillion asset management operations using a single transparent ledger.
Token Terminal, a data analytics platform, suggests BlackRock is preparing to launch its blockchain network, potentially transforming the financial sector by integrating blockchain technology into its processes.
BlackRock has strategically segmented the cryptocurrency market into three categories: traditional cryptocurrencies like Bitcoin, stablecoins such as USDC, and Real World Assets (RWAs) through Ethereum-based initiatives like the BUIDL fund.
The company has invested in the iShares Bitcoin Trust (IBIT), holds a stake in Circle (the issuer of USDC), and invested in Securitize, which manages the BUIDL on-chain money market fund. Bitcoin’s global accessibility and efficiency have led to the creation of products like the IBIT and ETHA ETFs, with potential diversification into other cryptocurrencies like Solana.
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Token Terminal indicates that BlackRock’s blockchain ambitions go beyond adding crypto products. The firm sees blockchain as a transformative force for capital markets, enabling 24/7 trading, enhancing transparency, reducing costs, and speeding up transactions. Managing its assets on a unified ledger could set new industry standards.
BlackRock has achieved significant milestones with its cryptocurrency ETFs. The IBIT, its first spot Bitcoin ETF, attracted $1 billion in four days and now holds over $20 billion in Bitcoin. The iShares Ethereum Trust (ETHA) has also gained nearly $1 billion in inflows.
These successes underscore BlackRock’s prominent role in the digital asset space. While BlackRock has not confirmed the launch of its blockchain network or new crypto products beyond its existing offerings, its strategic moves suggest a major transformation in digital asset investment is imminent, potentially reshaping the future of blockchain technology and asset management.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
