BlackRock’s Billion-Dollar Bet: Is Solana the New King of Crypto? 🚀💰

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So, hold onto your wallets, folks! Financial giant BlackRock, with a little less than the GDP of a small country in assets, is diving headfirst into the blockchain pool. They’ve decided to kick off a shiny new fund on Solana for their illustrious big clients. Yes, you heard that right! The USD Institutional Digital Fund (BUIDL) is now playing on not one, but seven blockchain playgrounds. Because who needs just one when you can juggle several? 🤹‍♀️

Solana & BlackRock: The Odd Couple of Crypto

Our good friends over at BlackRock, sitting on a cozy $11.6 trillion, have been tiptoeing into the cryptocurrency world. Since its glam debut in March 2024, BUIDL has already amassed a jaw-dropping $1.7 billion. Experts, aka fortune tellers with spreadsheets, predict this fund could balloon to $2 billion by April. No pressure! 🎉

Why Solana? Because Why Not?

So, why Solana, you ask? Well, it whizzes through transactions faster than a caffeinated squirrel while keeping fees low. This blockchain provides investors with perpetual access to the good old financial tools they’ve grown so fond of. Michael Sonnenshein, the maestro COO of Securitize, claims this setup makes things easier and less… well, boring. 😴

The institutions are here.

Today @Securitize launched the largest yield-bearing tokenized treasury fund ($1.7B), BUIDL, on Solana.

BUIDL is issued by BlackRock — the world’s largest asset manager. More from Fortune:

— Solana (@solana) March 25, 2025

“We’re making them unboring,” Sonnenshein told Fortune. “We are advancing and leapfrogging some of the quote-unquote deficiencies that money markets may have in their traditional formats.”

Meanwhile, BlackRock has brought its Bitcoin ETP to Europe. Starting its European tour on Xetra and in the chic locales of Euronext Paris and Amsterdam. 🍷

The Great Investment Migration

Oh look, Franklin Templeton has jumped on the blockchain bandwagon too, launching a money fund on Solana. Clearly, it’s a blockchain gold rush, and everyone’s packing their shovels! 🏗️

In addition to flexing funds on the blockchain, BlackRock’s thrown Bitcoin and Ethereum ETFs into the mix. Larry Fink, the CEO and resident visionary, believes blockchain is the next big thing—like, next-level, game-changing stuff! 🎮

Looks like BlackRock has upped its game with a focus on asset tokenization. Moving the old-school investment vehicles to the blockchain is the ‘in’ thing now! Buckle up!

BUIDL is now strutting its stuff across networks like Ethereum, Optimism, Aptos, Avalanche, Arbitrum, and Polygon. It’s like the VIP club of blockchain! This fund, cushioned by cash and Treasury bills, is offering grand investors new ways to play the financial game. 🎩

And with $1.7 billion already snagged, it’s clear that investors are clamoring for a taste of these fancy new financial gadgets. Choosing Solana? That’s just BlackRock flaunting its confidence in a fast, cost-effective blockchain. Who wouldn’t want to date that? 💃

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2025-03-26 20:45