TechFlow, May 10 — According to an SEC memo, Wall Street giant BlackRock held a meeting with the U.S. Securities and Exchange Commission's (SEC) crypto task force to discuss staking features for cryptocurrency exchange-traded products (ETPs) and securities tokenization.
Per the memo released on May 9, BlackRock focused on staking-related proposals, including considerations for facilitating ETPs with staking functionality. Previously, BlackRock stated that an Ethereum ETF without staking would be incomplete. Other ETF issuers share similar views. On February 15, the New York Stock Exchange proposed rule changes to introduce staking services for Grayscale’s spot Ethereum ETF. Currently, BlackRock and Grayscale are the largest Ethereum ETF issuers by market capitalization.
In addition, BlackRock discussed securities tokenization within the federal securities regulatory framework. BlackRock has already launched BUIDL, a tokenized U.S. Treasury bond fund, which has reached $2.9 billion in assets under management and is the largest of its kind.
