BlackRock targets Crypto-staking, Tokenization
BlackRock met with the US Securities and Exchange Commission's Crypto Task Force at a high level to discuss important regulatory matters
Quick overview
- BlackRock met with the SEC's Crypto Task Force to discuss regulatory matters impacting digital assets.
- Key topics included staking, tokenization, and standards for crypto ETFs, which are vital for market development.
- The meeting highlighted BlackRock's digital asset strategy, including products like the iShares Bitcoin Trust and iShares Ethereum Trust.
- Despite market anxiety and a recent selloff, BlackRock's assets reached a record high of $11.58 trillion.
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BlackRock met with the US Securities and Exchange Commission’s Crypto Task Force at a high level to discuss important regulatory matters that will affect digital assets in the future. According to a memo outlining the agenda, the meeting’s main objectives were staking, tokenization, and crypto ETF standards, essential to the market’s continued development.
The meeting touched on BlackRock’s growing strategy for digital assets.
The iShares Bitcoin Trust, iShares Ethereum Trust, and BlackRock USD Institutional Digital Liquidity Fund are among the crypto-related products BlackRock gave an overview of. They also talked about the regulatory aspects of staking, specifically the possible structure of exchange-traded products that can stake under the existing regulations.
The memo states that the main topics were compliance under the Exchange Act, approval requirements for crypto ETFs, and the tokenization of securities and its role in the federal securities regulatory framework. The options for crypto ETPs, such as position and exercise limits and liquidity thresholds for the underlying digital assets, were also investigated.
BlackRock’s assets reached a record high in the first quarter, the CEO of the biggest asset manager in the world claimed that market anxiety was taking over, though the recent selloff did not threaten the company’s financial stability. The New York-based company’s assets grew to $11.58 trillion.
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