BlackRock to issue coin? $150 billion money market fund plans to use DLT, partnering with BNY Mellon to launch tokenized shares.

The traditional financial giant BlackRock is preparing to move its $150 billion money market fund onto the Blockchain, further implementing the application of tokenization of assets. According to the latest documents submitted to the SEC, the company plans to issue Distributed Ledger technology (DLT) shares through BNY Mellon, which will be an important step for the traditional asset management industry toward Web3.

BlackRock will issue DLT shares, sold exclusively through BNY Mellon.

BlackRock indicated in the Form N-1A document submitted to the SEC on Monday (April 29) that it plans to launch digital "DLT shares" for its BlackRock Liquidity Funds Treasury Trust Fund. DLT (Distributed Ledger Technology) shares are digital shares that use blockchain and other distributed ledger technologies to track ownership.

These DLT shares can only be purchased through BNY Mellon, open exclusively to institutional investors, with an initial investment threshold of 3 million USD, but there is no minimum limit for subsequent additional investments.

Although the fund itself does not directly invest in cryptocurrency assets or use blockchain for transaction processing, the document states that BNY Mellon will use blockchain to establish a "mirror ledger" that is synchronized with existing systems, serving as a digital backup of shareholding records.

$150 billion money market funds will become the tokenization touchstone.

According to information from BlackRock's official website, as of April 29, 2025, the asset size of the BlackRock Liquidity Funds Treasury Trust Fund has reached $150.1 billion, making it one of the largest money market funds in the world. Such funds are typically used by institutions to park funds for the short term, so liquidity and safety are crucial.

This application is still under review, and the final issuance conditions for DLT shares may change based on the SEC's review.

CEO Larry Fink: Tokenization will fundamentally change the way we invest.

BlackRock's recent layout coincides with its CEO Larry Fink's previous public statements. In the annual letter to shareholders in March 2025, Fink emphasized: "Tokenization will fundamentally change the investment world. Future markets will not need to close, and transactions can settle in seconds. The billions of dollars that were previously idle due to settlement delays will be able to be reinvested into the economy immediately, creating more growth."

He further pointed out that tokenization can promote "investment democratization", such as achieving "fragmented ownership" of shares, digitizing shareholder voting rights, and allowing more people to participate in financial products that previously had higher thresholds.

Regulations and identity verification remain the main challenges of tokenization.

Although Fink is optimistic about the potential of tokenization, he also admits that there are still challenges in the areas of authentication and compliance. He believes that only after these issues are overcome can tokenized funds become mainstream in the market, just like ETFs (Exchange-Traded Funds).

TradFi is embracing Blockchain on a large scale, and BlackRock is not the only one.

BlackRock is not the only traditional asset management giant embracing Blockchain. Institutions like JPMorgan, State Street, and Franklin Templeton have also launched tokenized assets or similar experimental products based on blockchain technology.

The UK asset management technology company Calastone recently announced a partnership with Fireblocks to implement its Blockchain infrastructure, assisting asset managers in the tokenization of any fund, indicating that this "digital asset revolution" is rapidly underway.

This article asks if BlackRock is going to issue a coin? A $150 billion money market fund plans to use DLT and collaborate with BNY Mellon to launch tokenized shares. It first appeared on Chain News ABMedia.