BlackRock, one of the world’s largest asset managers, has created a joint fund with asset tokenization company Securitize.
In a new filing with the U.S. Securities and Exchange Commission (SEC), BlackRock included the fund created in partnership with Securitize.
Called the BlackRock USD Corporate Digital Liquidity Fund, the initiative will focus on tokenizing real world assets (RWA) and products operating on the blockchain.
The filing does not currently specify which assets the fund will hold. BlackRock CEO Larry Fink previously stated that the steps taken for spot bitcoin and ether ETFs were essentially steps toward tokenization.
Following BlackRock’s application, the price of RWA-based cryptocurrency project Ondo Finance (ONDO) saw a significant increase.
According to CoinGecko data, ONDO, influenced by the news, showed a 50% increase and rose from $0.40 to $0.61.
