May 07, 2025
By Anjali Kochhar
Wall Street’s biggest titan is no longer just watching the blockchain revolution it’s joining it. BlackRock, the world’s largest asset manager, is making a calculated leap into the world of distributed ledgers, not with fanfare, but with a regulatory filing that could quietly redefine the plumbing of global finance. With its latest move to tokenise a $150 billion money market fund using blockchain technology, BlackRock is not just experimenting it’s sending a clear message: the future of finance will be built on-chain. This shift marks a significant evolution in how institutions approach asset management, transparency, and accessibility in capital markets.
In late April, BlackRock filed with the U.S. Securities and Exchange Commission (SEC) to introduce a new class of shares called “DLT Shares” (Distributed Ledger Technology shares) for its Institutional U.S. Treasury Money Market Fund. This would allow the fund’s share ownership records to be tracked and managed on a blockchain network representing a massive step forward in real-world asset (RWA) tokenisation.
By digitising securities and managing them through blockchain, BlackRock is unlocking several benefits: faster settlements, lower costs, enhanced transparency, and fractional ownership. The goal is not only to streamline back-end operations but also to eventually enable 24/7 access to institutional-grade assets similar to the flexibility seen in crypto markets.
Anish Jain, Founder of W Chain, a leading hybrid blockchain network, sees this as a defining moment for financial modernisation. He explains:
“We strongly believe that blockchain has the potential to transform the capital markets and enhance user experience in a significant way. Integration of blockchain technology with traditional finance can streamline the process of issuing, trading and settlement of securities. By deploying the blockchain technology, the transactions related to securities/bonds etc can be executed quickly and at a much lower cost. BlackRock’s and other financial giants are realising the importance and power of blockchain technology and this will serve as a template for rest of the world.”
This vision goes beyond efficiency. It points to a larger re-imagining of how capital markets can be democratised breaking down barriers to entry that have kept many retail and smaller institutional investors at arm’s length.
BlackRock’s blockchain pivot is part of a broader trend: financial giants increasingly see tokenisation as the key to unlocking liquidity in traditionally illiquid markets. In March 2024, BlackRock had already launched its first tokenized fund on the Ethereum blockchain demonstrating its long-term commitment to digital transformation.
Devika Mittal, Regional Head at Ava Labs, notes the global scale of this shift:“Global financial giants are driving the tokenisation trend that will directly catalyse the mass adoption of distributed ledger technology (DLT) in traditional finance and other related sectors. Infosys co-founder Nandan Nilekani recently highlighted the potential of tokenisation in unlocking the value of land assets and its role in the economy. The larger picture is obvious, tokenisation will be the biggest change maker of the 21st century. Sectors like finance, real estate, supply chain, government, and Intellectual property among others can benefit immensely by imbibing blockchain technology into their ecosystem.”
As Mittal highlights, tokenisation isn’t just about stocks or bonds it could redefine asset ownership across entire industries.
A research note, analysts Gautam Chhugani and Mahika Sapra stated:“BlackRock’s tokenized fund launch brings legitimacy to public smart contract chains like Ethereum.”
They further emphasised that this initiative could serve as a major test case for institutional investors to experience the benefits of blockchain technology, such as 24/7 instant settlement, increased transparency, and improved capital efficiency at reduced operating costs.
Her point underscores that this move is not a flirtation with innovation, but a deeper infrastructural shift bringing blockchain out of crypto-native communities and into the heart of global finance.
With custodians like BNY is Mellon involved and regulatory clarity gradually improving, the road to a tokenized future is becoming more realistic. Tokenized assets could soon be traded round-the-clock with full transparency, while reducing reliance on intermediaries and paperwork. This model has the potential to offer significant cost savings and operational efficiency.
The global blockchain in finance market, already valued in the billions, is expected to surpass $60 billion by 2030. BlackRock’s actions signal that the time for passive observation is over the institutions are now actively shaping what comes next.
BlackRock’s bold move to integrate blockchain technology is more than just a technological upgrade it’s a philosophical pivot. It’s a recognition that the legacy systems of finance must evolve to meet the speed, transparency, and inclusivity that modern investors demand. As the financial world watches closely, one thing is clear: the wall between traditional finance and Web3 is no longer insurmountable it’s being dismantled, one DLT Share at a time.
About the author
Anjali Kochhar covers cryptocurrency and blockchain stories in India as well as globally. Having been in the field of media and journalism for over four years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
