BlackRock the world’s largest asset manager, has filed with the U.S. Securities and Exchange Commission (SEC) to launch a blockchain-based version of its $150 billion Treasury Trust fund.
The new share class, called “DLT Shares,” will use Ethereum’s blockchain to maintain ownership records digitally, marking a key step in combining traditional finance with decentralized technology.
DLT Shares: Bridging Finance and Blockchain
DLT Shares, short for Distributed Ledger Technology Shares, aim to bring more transparency and efficiency to the process of managing fund ownership. Instead of relying solely on traditional systems, these shares will be recorded on Ethereum’s blockchain, allowing for more secure and accessible transaction tracking.
While the fund itself remains rooted in traditional U.S. Treasury investments, the method of managing who owns what is getting a digital upgrade.
The filing outlines that the DLT Shares will only be available through BNY Mellon, one of the largest custody banks in the world. BNY Mellon will manage the technical side of the blockchain integration, including recording and updating the digital ownership of shares.