TechFlow, May 2 — According to Bloomberg, on May 2, BlackRock, the global asset management giant, has filed an application with the U.S. Securities and Exchange Commission (SEC) to create a blockchain-based share class for its BlackRock BLF Treasury Trust Fund, labeled DLT—short for distributed ledger technology. The DLT shares aim to leverage blockchain technology to record share ownership or streamline certain operations of the money market fund, which invests in high-quality, short-term U.S. Treasury securities. DLT shares will only be available for purchase through BNY Mellon (BNY), which plans to use blockchain technology to maintain mirrored records of share ownership for its clients.
It is understood that BlackRock launched its tokenized fund last year—the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
