BlackRock started a new blockchain fund on the Solana network to serve institutional clients. Fortune records the USD Institutional Digital Fund (BUIDL) offering its services on seven blockchain platforms now.

As a trusted investment manager of $11.6 trillion, BlackRock keeps including more blockchain and cryptocurrency products into its official offering. BUIDL launched on March 2024 with $1.7 billion held yet market analysts forecast an increase to $2 billion by April.

Solana makes fast payments at low expenses to connect investors directly with classic financial tools. Michael Sonnenshein from Securitize explains that integrating this technology simplifies fund management treasury activities.

BlackRock Launches Bitcoin ETP in Europe

On Monday, BlackRock introduced digital finance to Europe with their Bitcoin Exchange-Traded Product (ETP). BlackRock shows its commitment to blockchain products by offering this new product both on Xetra and European markets. Sonnenshein told Fortune:

“We’re making them unboring. We are advancing and leapfrogging some of the quote-unquote deficiencies that money markets may have in their traditional formats.”

Franklin Templeton joined BlackRock when it created a money fund on Solana in February 2020. Large financial companies show growing enthusiasm for employing blockchain technology to develop new investment opportunities.

BlackRock Expands Blockchain Fund with Solana Integration

Beyond blockchain funds BlackRock has created Bitcoin and Ethereum exchange-traded funds that customers can purchase across several US and European markets, including Canada. CEO Larry Finkstates believes that blockchain will transform financial markets by marking asset tokenization as the next phase in investment development.

By including BUIDL into multiple blockchain platforms (Ethereum, Optimism, Aptos, Avalanche, Arbitrum, and Polygon), BlackRock demonstrates the strong market view of blockchain-based financial solutions. The fund offers investors an original method to hold cash and Treasury bills.

Support for fast and low-cost Solana transactions strengthens this platform as an ideal network for major financial companies to use. People are more eager than ever to invest through blockchain after $1.7 billion went into BUIDL funding.

BlackRock Expands Blockchain Fund with Solana Integration

BlackRock”s latest project shows companies are now blending blockchain technology into their regular asset management services, which signals more businesses will join this movement.