BlackRock files with SEC to apply blockchain technology to its Treasury Trust Fund

Odaily News Global asset management giant BlackRock has filed an application with the U.S. Securities and Exchange Commission (SEC) to create a blockchain-based share class for the BlackRock BLF Treasury Trust, labeled DLT, short for distributed ledger technology. DLT will seek to use blockchain technology to record stock ownership or streamline certain fund operations for a money market fund that invests in high-quality, short-term U.S. Treasury bonds. DLT shares will only be available through Bank of New York Mellon (BNY), which plans to use blockchain technology to maintain a mirror record of stock ownership for its clients. (Bloomberg)