Made in America, Sold Abroad | BlackRock's Tokens & the Two-Tier Tokenization Market
BlackRock, the world's largest money manager, has let a crypto firm called Ondo Finance turn three of its ready-made investment mixes into digital tokens. These mixes, known as model portfolios, are preset recipes that financial advisers buy off the shelf instead of picking funds themselves. They are a big business: assets in them grew from $7.7 trillion to $9.8 trillion in the year to June.
This is the first time BlackRock has designed portfolios for another firm to turn into tokens. There is one line that matters more than the rest: the tokens are for non-US investors only, and buyers do not own the funds inside. They get the price moves, not the ownership.
#Tokenization, #MultipolarOrder, #BlackRock, #DollarSystem, #CapitalMarkets, #ModelPortfolios, #DigitalAssets, #MAS
Washington Reclaims Tokenized Stock Trading
Ignore both the “historic revolution” and the “nothing to see here” takes. This is a deliberately limited, legally fragile bridge — built to pull a fast-moving business back onto US soil and shape it before it grew up somewhere else. The part that matters most isn’t people trading Apple at midnight. It’s the quiet groundwork for these tokens to become plumbing in the wider financial system — and the two-regulator standoff that decides how far, and how fast, Washington can take it.
#Tokenization, #MultipolarOrder, #CapitalMarkets, #SECvsCFTC, #DollarSystem, #Repo
The Twin & the Wrapper | What DTCC's Tokenization Pilot Settles About Ownership
Wall Street's clearinghouse put shares and Treasurys on a blockchain this week with roughly forty firms — JPMorgan, Goldman Sachs and BlackRock among them. The pilot answers the question the offshore wrapper tokens never could — whether you actually own anything — and reveals tokenisation's arrival as a plumbing upgrade, not a way to widen access.
#Tokenization, #DTCC, #MarketInfrastructure ,#Collateral, #Repo, #Settlement, #Blockchain, #RWA, #TokenizedStocks, #Wrappers, #Treasurys, #CantonNetwork, #JPMorgan, #BlackRock, #SEC, #Clearinghouse, #OndoFinance, #PrivateCredit. #PunjabCapitalResearch, #CapitalInsights, #FundamentalsThroughTheNoise