TL; DR
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BlackRock just filed to launch a private fund that will have its own token, require a minimum buy-in of $100,000+, and invest in Ethereum-based projects.
Full story
BlackRock just filed papers with the SEC to launch a ‘digital liquidity fund’.
That’s quite a mouthful.
Essentially, it is a private fund that requires a minimum buy-in of $100,000+ and will invest in Ethereum-based projects.
The REALLY cool thing is that the fund runs on Ethereum and even has its own Ethereum-based token (called BUIDL) to denote its holdings!
And that ☝️ right there ☝️ is the kind of fund that will get your stupid uncle into crypto…
How? Through baby steps.
Think of this BlackRock filing as training for a marathon (stay here with us):
Everyone would love to tie their laces and immediately run a marathon. Unfortunately it doesn’t work that way.
We all have to take baby steps: start running 1 mile every day → gradually increase → eventually reach 26.2 miles.
“Uhhhh, okay, how is this related??”
Web3 has more exciting use cases than just investments, and that fully immersive Web3 experience is the marathon finish line (think: Web3 integrated gaming, metaverse experiences, social, etc.).
You, my friend, are already a ‘Web3 marathoner.‘
But the rest of the world needs those steps one mile at a time to introduce them to new ideas. without making them feel like they are training for a marathon.
That’s where BlackRock comes in:
BlackRock’s application for a ‘digital liquidity fund’ is a new method of drawing fuddy-duddy traditional finance people into the world of blockchain.
The first mile was walked when the Bitcoin ETFs were launched.
Now we’re aiming for a 5k.