BlackRock has filed an application with the Securities and Exchange Commission (SEC) seeking approval to implement blockchain technology within its fund management operations. This groundbreaking move aims to streamline investment processes while minimizing direct cryptocurrency involvement. The proposed fund, utilizing a new blockchain-based share class called DLT for its BLF Treasury Trust Fund, will leverage distributed ledger technology (DLT) to record stock ownership.** BlackRock has partnered with Bank of New York Mellon for distribution and recordkeeping services, paving the way for efficient management without exposing investors to direct crypto assets. The potential impact on Ethereum is notable as institutional interest in asset tokenization on the platform could significantly increase.** BlackRock’s initiative reflects a broader trend within traditional finance, following its pioneering efforts with Bitcoin ETFs and tokenization pilots. BlackRock’s dedication to exploring blockchain and digital asset technologies positions it at the forefront of innovation in financial services. Market data shows Ethereum currently trading around $1,839.03, boasting a market cap exceeding $222 billion. Coincu research suggests that BlackRock’s blockchain deployment may further fuel institutional interest in Ethereum for asset tokenization. The future implications of this integration remain exciting as it could lead to increased value and utility for the platform.**