Wall Street giant BlackRock has announced its intent to launch a blockchain-based investment fund, seeking approval from the SEC. This move involves offering “DLT Shares” tied to the firm’s $150 billion institutional portfolio, giving select investors exposure to government debt on a blockchain ledger managed by BNY Mellon for tracking and distribution. While the specific blockchain network remains undisclosed, BlackRock has previously employed Ethereum for similar initiatives. This new investment class carries a $3 million minimum entry requirement and will focus on ultra-short-term U.S. government debt with average maturities under two months. BlackRock’s foray into digital assets isn’t limited to this one initiative; they have witnessed strong demand for Bitcoin and Ethereum ETFs as well as their BUIDL fund, which has over $2.5 billion in tokenized assets across various blockchain networks including Solana, Avalanche, and Ethereum layer-2 solutions. BlackRock CEO Larry Fink has highlighted the potential of tokenization to revolutionize finance by removing entry barriers, streamlining processes, and making high-yield investments more accessible to a wider audience. This move demonstrates Blackrock’s continued commitment to blockchain technology and its integration into mainstream financial operations.