BNY will utilize blockchain to maintain a digital mirror of investor share ownership while traditional book-entry systems remain the official ledger.

Transparency Over Tokenization

Unlike BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), these new shares won’t be tokenized. Instead, they will serve as a transparency tool to verify ownership. A minimum $3 million investment is required for institutions to access the digital shares. No ticker symbol or management fee has yet been proposed.

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Wall Street Embraces Blockchain Solutions

BlackRock follows in the footsteps of Fidelity, which filed in March to launch an Ethereum-based OnChain share class for the $80 million Fidelity Treasury Digital Fund (FYHXX), expected to go live on May 30 pending regulatory approval.

The market for tokenized Treasury products has grown to $6.16 billion, led by BlackRock’s BUIDL with $2.55 billion, and Franklin Templeton’s BENJI fund managing over $700 million.

Ethereum remains the dominant blockchain for tokenized real-world assets, currently hosting over $4.55 billion, followed by Stellar and Solana with $474.9 million and $274.5 million, respectively.

BlackRock CEO Larry Fink believes tokenization of real-world assets could revolutionize investing.

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