I just saw a very interesting comment from the Bitwise team about what BlackRock is moving behind the scenes. According to Matt Hougan, Bitwise's head of investments, the asset management giant is in talks with the U.S. SEC to tokenize their iShares ETFs. And look, this isn't something that will be ready in 90 days.

Martin Small, BlackRock's CFO, was very clear: no one can predict whether this process will close in three months or drag on for up to 12 months. Basically, we're talking about a move that could take a considerable amount of time, but would signal something much bigger for the crypto market.

What I found most relevant was Matt Hougan's analysis of the impact of this. He pointed out that the tokenization of BlackRock's products could be one of the main narratives to pull the market out of the downturn we've been seeing. And it's no small thing — we're talking about how this would benefit both layer one of blockchain and the entire decentralized finance infrastructure.

If BlackRock really manages to move forward with this, it would be a strong sign that institutions in the U.S. are starting to see tokenization as a viable option. And that would significantly change the game for projects and protocols working with tokenized assets. It's worth keeping an eye on this movement.