BlackRock launches BUIDL, tokenized asset fund on Ethereum, while the ETF remains on hold

By KMatt | Blogging Crypto | 22 Mar 2024

Asset management giant BlackRock has entered the world of tokenization with the launch of BUIDL, a tokenized asset fund on the Ethereum network. The fund, denominated in US dollars, will invest in cash, US Treasuries and repurchase agreements, offering investors daily returns distributed via blockchain.

BUIDL, which represents a significant step towards the adoption of cryptocurrencies by major financial institutions, offers several advantages:

- Greater liquidity: tokenization allows 24/7 trading on decentralized markets, increasing liquidity for investors.

- Transparency: blockchain guarantees an immutable record of all transactions, offering investors greater transparency on the fund's activities.

- Accessibility: Tokenization could lower barriers to entry for investors, opening the fund to a wider audience

In the meantime, the ETH spot ETF remains on hold, certainly more uncertain than that of BTC which raised fewer doubts and more certainties.
What we do know, however, is that Fidelity recently updated the filing for the ETH spot ETF in relation to staking, in order to allow its investors to obtain income.
While the SEC postpones the deadline for applying for the ETH spot ETF to May 23, opening the proposal to public comments. SEC investigations appear to be behind the decision into companies with alleged ties to the Ethereum Foundation as part of efforts to classify ETH as a security. It remains unclear what the outcome of this investigation entails, especially regarding the ETF.



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