Ethereum [pros](/r/CryptoCurrency/comments/1bk1jvv/blackrock_enters_asset_tokenization_race_with_new/kvv7mv8/) & [cons](/r/CryptoCurrency/comments/1bk1jvv/blackrock_enters_asset_tokenization_race_with_new/kvv7n81/) with related info are in the collapsed comments below.
On one hand I’m happy that there’s more interest in crypto so prices go up, but on the other hand I’m wary of why they want to get involved because they don’t want decentralisation, they want control
I’m weirdly optimistic (and probably wrong) but I’ve read through all the information I can find on this fund and it looks like they truly understand the technology and realize it’s just better. Sure they want to own everything but they seeded the fund with $100m in usdc not eth, they’re not trying to increase decentralization as of yet. They just want a fund that settles quickly& trades 24/7 and the old infrastructure can’t handle that. ETHforever.
Finance companies are about rent-seeking. Blackrock and other institutional finance companies see crypto as mature enough for mass adoption and they want to get in as the "old guards" and establish themselves in the same way they have already done in the tradfi system. Yes, that probably means that they will lobby for crypto access only through regulated channels, i.e. them.
It's pretty obvious why they want in if you've actually been paying attention to tradfi's involvement in crypto. For asset managers blockchain is a pretty big improvement over their status quo. Basically tokenizing assets on smart contract platforms = significant efficiency gains when it comes to managing portfolios = lower fees and a greater range of available products = more customers = more money for them. No need to invent some paranoid nonsense about Blackrock wanting to take over and control ethereum
This has always been the end game for digital assets. Crypto was never going to replace tradfi. But it will be adopted and used by tradfi to improve efficiency, tap new markets, or offer new products, as you can see with BlackRocks stablecoin yield product.
This is adoption. Finally. This is how we win
I've heard this before and I still buy $10 weekly regardless of the price. My bet in crypto is that it's going to have wider adoption on 10-20 years. With this time frame, I wanna get as many coins as I can. Good luck and pack your bags with things you believe will be around in the long term !
That's what they said about Blackrock and JP Morgan. [This guy isn't going to live forever.](https://content.fortune.com/wp-content/uploads/2024/01/GettyImages-139077185-e1705769612583.jpg?w=1440&q=75)
For are we know, those assholes already secretly hold a ton of crypto and are doing this to keep the price down while they accumulate.
>This guy isn't going to live forever.
He died 5 years go and hadn't been leading Vanguard for quite some time before that.
>those assholes
Your lack of respect for very accomplished people says more about you than about them.
John bogle is one of the most important people for the average person to get ahead in the history of finance. I would even argue his creation of passive investing is more important than crypto for your everyday person
Their current CEO is leaving before the year ends.
And most of those peoples accomplishments came from the direct destruction of others.
[What are you, a banker?](https://m.media-amazon.com/images/M/MV5BNzZmNjEyNjMtNmVlZi00M2FmLWE3MjYtM2U3OGE1Y2ViYmI5XkEyXkFqcGdeQXVyNzU1NzE3NTg@._V1_.jpg)
Fractions will still be attainable but I think this is the last big run for most coins. Once institutional investors fully ape in the coins they own will stabilize.
tldr; BlackRock has launched a tokenized asset fund on the Ethereum network, named the BlackRock USD Institutional Digital Liquidity Fund, represented by the BUIDL token. This fund is backed by cash, U.S. Treasury bills, and repurchase agreements, offering daily yield payouts via blockchain. Securitize will serve as the transfer agent and tokenization platform, with BNY Mellon as the custodian. BlackRock also invested in Securitize, though financial details were not disclosed. This move is part of BlackRock's strategy to develop digital asset solutions for clients.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Securitize has used Chainlink Proof of Reserves in the past for similar assets, so I think there’s a good chance that they’re using that here as well, or at least using a similar solution. Decentralized proof of reserves is going to be super important for these types of tokenized assets for transparency and to avoid more FTX’s.
The fact that ETH is deflationary and constantly burning away is one thing, but on top of that now we have a company worth trillions increasing exposure by offering ETFs and actually utilizing ethereum, it kinda showcases the interest in the techology by actual giants. The deflation and buying pressure coupled together will make it skyrocket in my opinion. (with plenty of healthy dips along the way)
Blackrock, who has been meeting with the SEC to try to get approval on a spot ETH ETF is starting a fund on the Ethereum network. Something tells me these meetings with the SEC on the topic of Ethereum are going well. Or at least that they’re being very clear they’re not coming for Ethereum in any way.
Any time a major mover like blackrock makes a move I imagine its a good move to copy in my own doable way. They're much better at making money than me so I'll just do what they do.
Blackrock believes in btc? Well so do i.
I PLEDGE ALLEGIANCE TO THE MIGHTY BLACK $ROCK, SYMBOL OF OUR UNBREAKABLE WILL AND PERSEVERANCE.
AND TO THE COMMUNITY FOR WHICH IT STANDS, ONE FELLOWSHIP, UNDER LARRY, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL BLACK ROCKS
I agree, but in this case there is no 'partnership'.
Ethereum is a permissionless blockchain, anyone can build on it, in this case Blackrock has started doing so. That's not a partnership, it's just a company buying a product (blockspace) that they want to use. If you buy a printer that doesn't mean you now have a partnership with HP or whoever.
Exactly, very disingenuous.
The issue is the usual influencer types saying RIO or ONDO or whoever are partnering with BR. I pay no attention to them but going by the comments a lot of people do. That's the murky world of crypto twitter hype I guess.
Same goes for all the AI projects saying they have a partnership with Nvidia when all they have done is applied for the open dev program.
Yea, partly disingenuous and partly just ignorant.
I saw an analogy somewhere that crypto news works like a series of concentric circles.
In the very middle are the people directly involved, the builders/devs etc. Maybe 0.1% of the total.
Then there are the involved enthusiasts, the people who watch the dev calls, read the upgrade discussions, run nodes, talk to the people in the first category etc. Maybe 0.9% of the total.
Then there are the influencers and 'journalists' who watch the Twitter chats between the first categories and try to create simple narratives, based on the lowest common denominator, to try to attract engagement from the final category...
Which is everyone else, probably 90% or more. They are trying to make sense of the ecosystem and make good decisions without really having a clue what's going on. The majority of sources of info they find are trying to manipulate them. They lack the skills, knowledge or inclination to verify what they are being told/sold and so will get carried on with whatever the narrative de jour happens to be.
As you say, the hype around AI projects is a perfect example.
They mention Securitize will act as a transfer agent and tokenization platform. I understand this uses ChainLink CCIP.
It may also explain this:
[https://x.com/trueLinkMarine/status/1768253040157392912?s=20](https://x.com/trueLinkMarine/status/1768253040157392912?s=20)
Also ChainLink themselves also tweeted a couple of hours ago about this, although the tweet doesn't really say much about their involvement.
It definitely doesn't explain the spike in that tweet. There have been less than 30 total transactions on the addresses for the token and the reserve since they were set up and started testing. Only 2 were yesterday.
Have you got a link (pun intended) explaining how Securitize use ChainLink. It makes sense that they would, but you know: don't trust, verify...
Do ETF's do crypto/blockchain any favour? With ETF's you now have this centralized entities holding huge amounts of crypto, it's shared ownership but a whale nonetheless. This allows a centralized decision making on purchasing or selling a coin, enabling them to move the needle, or in more stronger terms manipulate the market.
You're right that it's centralized and whales can influence price. However, the real favor that ETFs are doing is legitimizing cryptocurrency as a mainstream financial product.
You can't stop centralisation, means and factors of production will always flow towards the ones who can make the most of it, hence all asset classes get a one sided distribution eventually. Everyone has a strike price unless already very rich so eventually one will sell of the asset.
This uses ChainLink as the backed. It would explain why CCIP transactions have been ballooning in the past month.
https://x.com/trueLinkMarine/status/1768253040157392912?s=20
Ethereum [pros](/r/CryptoCurrency/comments/1bk1jvv/blackrock_enters_asset_tokenization_race_with_new/kvv7mv8/) & [cons](/r/CryptoCurrency/comments/1bk1jvv/blackrock_enters_asset_tokenization_race_with_new/kvv7n81/) with related info are in the collapsed comments below.
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On one hand I’m happy that there’s more interest in crypto so prices go up, but on the other hand I’m wary of why they want to get involved because they don’t want decentralisation, they want control
I’m weirdly optimistic (and probably wrong) but I’ve read through all the information I can find on this fund and it looks like they truly understand the technology and realize it’s just better. Sure they want to own everything but they seeded the fund with $100m in usdc not eth, they’re not trying to increase decentralization as of yet. They just want a fund that settles quickly& trades 24/7 and the old infrastructure can’t handle that. ETHforever.
We can only hope that they give us time before that happens.
Finance companies are about rent-seeking. Blackrock and other institutional finance companies see crypto as mature enough for mass adoption and they want to get in as the "old guards" and establish themselves in the same way they have already done in the tradfi system. Yes, that probably means that they will lobby for crypto access only through regulated channels, i.e. them.
Let them. If it gets to the point of no return, we can fork the code 😆
It's pretty obvious why they want in if you've actually been paying attention to tradfi's involvement in crypto. For asset managers blockchain is a pretty big improvement over their status quo. Basically tokenizing assets on smart contract platforms = significant efficiency gains when it comes to managing portfolios = lower fees and a greater range of available products = more customers = more money for them. No need to invent some paranoid nonsense about Blackrock wanting to take over and control ethereum
This has always been the end game for digital assets. Crypto was never going to replace tradfi. But it will be adopted and used by tradfi to improve efficiency, tap new markets, or offer new products, as you can see with BlackRocks stablecoin yield product. This is adoption. Finally. This is how we win
I've heard this before and I still buy $10 weekly regardless of the price. My bet in crypto is that it's going to have wider adoption on 10-20 years. With this time frame, I wanna get as many coins as I can. Good luck and pack your bags with things you believe will be around in the long term !
BlackRock does, Vanguard vehemently does not.
I assure you that Vanguard will not enter
That's what they said about Blackrock and JP Morgan. [This guy isn't going to live forever.](https://content.fortune.com/wp-content/uploads/2024/01/GettyImages-139077185-e1705769612583.jpg?w=1440&q=75) For are we know, those assholes already secretly hold a ton of crypto and are doing this to keep the price down while they accumulate.
>This guy isn't going to live forever. He died 5 years go and hadn't been leading Vanguard for quite some time before that. >those assholes Your lack of respect for very accomplished people says more about you than about them.
John bogle is one of the most important people for the average person to get ahead in the history of finance. I would even argue his creation of passive investing is more important than crypto for your everyday person
Their current CEO is leaving before the year ends. And most of those peoples accomplishments came from the direct destruction of others. [What are you, a banker?](https://m.media-amazon.com/images/M/MV5BNzZmNjEyNjMtNmVlZi00M2FmLWE3MjYtM2U3OGE1Y2ViYmI5XkEyXkFqcGdeQXVyNzU1NzE3NTg@._V1_.jpg)
Vanguard literally invented mutual funds, which is why we don't need brokers for everything anymore. And I'm an engineer.
A deal with the Devil…
You are correct imo. Get in, we doin capitalist shit
Fractions will still be attainable but I think this is the last big run for most coins. Once institutional investors fully ape in the coins they own will stabilize.
Why would that scare you? It’s the dream
Yep scary times ahead
unattainable
tldr; BlackRock has launched a tokenized asset fund on the Ethereum network, named the BlackRock USD Institutional Digital Liquidity Fund, represented by the BUIDL token. This fund is backed by cash, U.S. Treasury bills, and repurchase agreements, offering daily yield payouts via blockchain. Securitize will serve as the transfer agent and tokenization platform, with BNY Mellon as the custodian. BlackRock also invested in Securitize, though financial details were not disclosed. This move is part of BlackRock's strategy to develop digital asset solutions for clients. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
How well did that go for Brett Harrison and FTX with their “backed 1 to 1” GME stock
Securitize has used Chainlink Proof of Reserves in the past for similar assets, so I think there’s a good chance that they’re using that here as well, or at least using a similar solution. Decentralized proof of reserves is going to be super important for these types of tokenized assets for transparency and to avoid more FTX’s.
Buy in before the price is way too high and you're telling yourself, "I should have bought in earlier"
what about your opinions? is this something good or bad?
This is mega bullish for eth.
This is what everyone pointed to as use cases and it's happening.
The token is BUIDL according to press release. It will only be offered to qualified investors initially according to press release.
But hey there are already a dozen scam tokens with the same name to choose from for the foolish to buy now.
Bros, dudes..... Do not sell.
Bullish f eth
What theoretically would this due to the price of eth?
The fact that ETH is deflationary and constantly burning away is one thing, but on top of that now we have a company worth trillions increasing exposure by offering ETFs and actually utilizing ethereum, it kinda showcases the interest in the techology by actual giants. The deflation and buying pressure coupled together will make it skyrocket in my opinion. (with plenty of healthy dips along the way)
Well this is pretty crazy news to read when you wake up lol.
Blackrock, who has been meeting with the SEC to try to get approval on a spot ETH ETF is starting a fund on the Ethereum network. Something tells me these meetings with the SEC on the topic of Ethereum are going well. Or at least that they’re being very clear they’re not coming for Ethereum in any way.
Any time a major mover like blackrock makes a move I imagine its a good move to copy in my own doable way. They're much better at making money than me so I'll just do what they do. Blackrock believes in btc? Well so do i.
> Blackrock believes in btc? Well so do i. The key to copy trading is copying... read the title again, it wasn't btc they deployed on.
You're right, I got distracted between reading and replying so I typed btc out of habit.
bullish
So they’re the ones behind ANAL coin!
NUMBER GO UP
Guys they own a meme coin on Base called black rock. The graph is one of the sexiest things I’ve ever seen.
I PLEDGE ALLEGIANCE TO THE MIGHTY BLACK $ROCK, SYMBOL OF OUR UNBREAKABLE WILL AND PERSEVERANCE. AND TO THE COMMUNITY FOR WHICH IT STANDS, ONE FELLOWSHIP, UNDER LARRY, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL BLACK ROCKS
So how do we buy this?
$DUSK.X already has a European tokenized marketplace. Bullish AF.
Sick of seeing Twitter idiots claiming every shitty project is 'partnered with Blackrock', sheer delusion across the board.
I agree, but in this case there is no 'partnership'. Ethereum is a permissionless blockchain, anyone can build on it, in this case Blackrock has started doing so. That's not a partnership, it's just a company buying a product (blockspace) that they want to use. If you buy a printer that doesn't mean you now have a partnership with HP or whoever.
Exactly, very disingenuous. The issue is the usual influencer types saying RIO or ONDO or whoever are partnering with BR. I pay no attention to them but going by the comments a lot of people do. That's the murky world of crypto twitter hype I guess. Same goes for all the AI projects saying they have a partnership with Nvidia when all they have done is applied for the open dev program.
Yea, partly disingenuous and partly just ignorant. I saw an analogy somewhere that crypto news works like a series of concentric circles. In the very middle are the people directly involved, the builders/devs etc. Maybe 0.1% of the total. Then there are the involved enthusiasts, the people who watch the dev calls, read the upgrade discussions, run nodes, talk to the people in the first category etc. Maybe 0.9% of the total. Then there are the influencers and 'journalists' who watch the Twitter chats between the first categories and try to create simple narratives, based on the lowest common denominator, to try to attract engagement from the final category... Which is everyone else, probably 90% or more. They are trying to make sense of the ecosystem and make good decisions without really having a clue what's going on. The majority of sources of info they find are trying to manipulate them. They lack the skills, knowledge or inclination to verify what they are being told/sold and so will get carried on with whatever the narrative de jour happens to be. As you say, the hype around AI projects is a perfect example.
It will at least generate fees. Both for ChainLink and Ethereum.
Evidence they use Chainlink? I know plenty of things do but are you just assuming?
They mention Securitize will act as a transfer agent and tokenization platform. I understand this uses ChainLink CCIP. It may also explain this: [https://x.com/trueLinkMarine/status/1768253040157392912?s=20](https://x.com/trueLinkMarine/status/1768253040157392912?s=20) Also ChainLink themselves also tweeted a couple of hours ago about this, although the tweet doesn't really say much about their involvement.
It definitely doesn't explain the spike in that tweet. There have been less than 30 total transactions on the addresses for the token and the reserve since they were set up and started testing. Only 2 were yesterday. Have you got a link (pun intended) explaining how Securitize use ChainLink. It makes sense that they would, but you know: don't trust, verify...
ChainLink appears to be part of the stack https://x.com/ARiHBARi/status/1770212008677261554?s=20
$ondo finance is the company blackrock is going through. 😉
damn do you think still worth getting in
You're already late man. institutions entering crypto defi is not a bullish thing for retail investors, they are going to run shit now
but if crypto ever wants to go mainstream, this is the only way though
Do ETF's do crypto/blockchain any favour? With ETF's you now have this centralized entities holding huge amounts of crypto, it's shared ownership but a whale nonetheless. This allows a centralized decision making on purchasing or selling a coin, enabling them to move the needle, or in more stronger terms manipulate the market.
You're right that it's centralized and whales can influence price. However, the real favor that ETFs are doing is legitimizing cryptocurrency as a mainstream financial product.
Wallets, exchanges and Dex ain't for everyone, same with stocks, hence etf's
That's not what I'm arguing though
You can't stop centralisation, means and factors of production will always flow towards the ones who can make the most of it, hence all asset classes get a one sided distribution eventually. Everyone has a strike price unless already very rich so eventually one will sell of the asset.
This uses ChainLink as the backed. It would explain why CCIP transactions have been ballooning in the past month. https://x.com/trueLinkMarine/status/1768253040157392912?s=20
Should we buy link?
Two words: Reserve Protocol You're welcome, enjoy future profits
What does.this mean? Tldr
too long; didn't read
They’re setting up a printer 🖨️
But how do we suck that printer dick?
Ethgate would like to have a word with you
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Please, don’t feign ignorance when this comment sours