BlackRock Looking to Tokenize Shares of Its $150B Treasury Trust Fund, SEC Filing Shows

BlackRock will work with BNY Mellon in creating a new class of Distributed Ledger Technology shares for the fund

What to know:

BlackRock is introducing a digital share class for its $150 billion Treasury Trust fund, utilizing blockchain technology through BNY Mellon.
The new shares will use blockchain to mirror share ownership records, potentially leading to broader adoption of digital assets.
BlackRock CEO Larry Fink has highlighted the potential of tokenization and warned the U.S. could lose financial dominance if it fails to manage its debt.

BlackRock is preparing to bring blockchain to the back office of one of its largest funds, filing to offer a digital share class of its $150 billion Treasury Trust money market fund through BNY Mellon.

The new “DLT Shares,” short for distributed ledger technology, won’t hold crypto. BNY Mellon, the fund’s exclusive distributor, intends to use blockchain to mirror share ownership records, an incremental step that could pave the way for broader adoption of tokenized cash, digital assets, or blockchain-based settlement infrastructure in traditional finance.

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