BlackRock applies to SEC to apply blockchain technology to its treasury trust fund

According to Foresight News, global asset management giant BlackRock has submitted an application to the US Securities and Exchange Commission (SEC) to create a blockchain based stock category for the BlackRock BLF Treasury Trust Fund, labeled as DLT, short for Distributed Ledger Technology. DLT will seek to use blockchain technology to record stock ownership or simplify the operation of some funds of money market funds, which invest in high-quality short-term US treasury bond bonds. DLT shares can only be purchased through Bank of New York Mellon (BNY), which plans to use blockchain technology to maintain mirror records of stock ownership for its clients. Previously, BlackRock had launched a tokenized fund last year, the BlackRock Dollar Institutional Digital Liquidity Fund (BUIDL).