BlackRock applies to the SEC to create a blockchain-based money market fund share class.

Gate.io News bot message, Bloomberg reported that BlackRock has submitted an application to the SEC, planning to establish a blockchain-based stock class for the BlackRock BLF Treasury Trust Fund, labeled as DLT (Distributed Ledger Technology). The fund invests in high-quality short-term U.S. Treasury securities, and the DLT class will record stock ownership through Blockchain technology and simplify the operation of money market funds. BNY Mellon serves as the intermediary responsible for the sale of these stocks, with a minimum transaction limit of $3 million.

Source: Bloomberg