BNY Mellon is in charge of keeping the fund’s money safe, with extra support from other tech finance companies like Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks.

Robert Mitchnick, who leads BlackRock’s digital money projects, said they’re using new tech to help their clients. This fund is a big deal for BlackRock in bringing digital tech into investing.

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• BlackRock, a big player in investment, has launched a new kind of investment fund that works with Ethereum’s technology. This fund is called the BlackRock USD Institutional Digital Liquidity Fund and is supported by solid assets like cash, U.S. Treasury bills, and certain deals. 
• This setup allows investors to earn money every day thanks to this tech.
• A company named Securitize, which knows a lot about this tech, will help run and set up the fund. BlackRock is investing in Securitize too, showing they really back this project.

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BlackRock Starts New Digital Fund with Ethereum Tech

The move comes as more investment companies are looking into using blockchain, the tech behind digital money, for traditional investments. This makes investing safer and more efficient. For example, money put into U.S. Treasuries using this tech jumped from $100 million to $730 million in early 2023.

Earlier, BlackRock’s CEO Larry Fink talked about using this tech for more than just their Bitcoin ETF, hinting at a bigger plan for digital investments.

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