Giant Wall Street Blackrock met with the Securities and Exchange Commission (SEC) Crypto Task Force to discuss staking within the products exchanged by crypto exchange (ETP) and tokenization of security. The discussion could promote institutional interest in the crypto industry.
According to a May 9 Memo Published by the Task Force, BlackRock sought the “(D) ISCUSS Perspectives on the exam test, including considerations for facilitating ETPs with standing capabilities.” The company had previously stated that Ether (Eth) The funds exchanged by the exchange, while successfully, are Not much perfect without staking.
Other Crypto ETF providers share that perspective. In Feb. 15, the New York Stock Exchange suggested change of rule To introduce staking services for Grayscale’s ETF spot. In April, the SEC delayed a decision if approved or delete the change of rule. Blackrock and Grayscale are behind ETF’s largest ETF by market capitalization, According to In Sosovalue.
Many blockchains rely on proof-of-stake consent mechanisms that allow users to lock their native coin for yield. A potential SEC approval of staking staking for Ether ETF can lead to future requests to altcoins, including Solana (Sol) Etfs.
Tokenization on the agenda
Blackrock also discussed the “tokenization of securities under the federal securities regulatory framework.” Security is traditional financial instruments in which the investor expects the benefit of finance, such as bonds and stocks. Security Securities have many benefits, including faster settlement time, lower cost than traditional financial infrastructure, and 24-hour market.
Blackrock has already offered a federal federal fund called Buidl, the largest funds with a $ 2.9 billion market cap. Competing products include the Benji Fund of Franklin Templeton.
The Robinhood Brokerage firm also explores security tokenization. The company has already been reported working on a blockchain That will allow European investors to exchange US security such as stocks.
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