BlackRock Invests Heavily in Ethereum, Triggering Market Concerns

Asset management giant BlackRock is making a major commitment to Ethereum. The firm has seen its tokenized U.S. Treasury securities value surpass $5 billion for the first time this week, driven by a $1 billion surge within just two weeks thanks to BUIDL, a fund launched by BlackRock and Securitize. Meanwhile, Securitize unveiled Converge, a blockchain designed to blend traditional finance with decentralized finance for tokenized assets and digital dollars. This move has sparked concern among some in the crypto market whether it could be a signal of a broader downturn.