BlackRock files to create digital shares tracking one of its money market funds

Asset manager BlackRock has filed to create digital ledger technology shares from one of the firm’s money market funds, which will leverage blockchain technology to maintain a mirror record of share ownership for investors. The DLT shares will track BlackRock’s BLF Treasury Trust Fund (TTTXX), which may only be purchased from BlackRock Advisors and The Bank of New York Mellon (BNY), the firm said in its April 29 Form N-1A filing with the Securities and Exchange Commission. The money market fund holds over $150 million worth of assets, invested almost entirely in US Treasury bills and cash. BlackRock said that the shares “are expected to be purchased and held through BNY, which intends to use blockchain technology to maintain a mirror record of share ownership for its customers source: https://cointelegraph.com/news/blackrock-files-digital-shares-money-market-fund?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound