"BlackRock's Ethereum Tokenization Fund Sparks Crypto Market Surge"

BlackRock, the asset management giant, has launched a real-world asset tokenization fund on the Ethereum network, represented by the blockchain-based BUIDL token and backed by cash, U.S. Treasury bills, and repurchase agreements. The fund will provide daily yield to token holders via blockchain rails and is supported by companies like Securitize, BNY Mellon, Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks. BlackRock also made a strategic investment in Securitize, signaling its focus on digital assets. This move follows a trend of traditional finance giants entering the tokenization field, as blockchain-based tokens of traditional investments are becoming more prevalent.