BlackRock has announced the creation of the BlackRock USD Institutional Digital Liquidity Fund in partnership with Securitize, a leading asset tokenization firm from the British Virgin Islands.

While the specific assets the fund will hold remain undisclosed, Securitizes involvement hints at a focus on tokenizing real-world assets (RWA). The process involves representing ownership of a broad array of assets through a blockchain token, a practice gaining traction for its potential to enhance asset liquidity and efficiency.

Tokenization continues to expand, with predictions that tokenized assets will grow by a factor of 80 in private markets and reach up to almost $4 trillion in value by 2030.

The tokenization of real-world assets (RWAs) is groundbreaking for investors and businesses alike.

The announcement and SEC filing of BlackRocks new fund had an immediate impact on the digital assets market. Ondo Finances native token, ONDO, witnessed a surge of up to 22% in value, significantly outperforming Bitcoin (BTC). Ondo Finance operates a platform for RWA, highlighting the markets positive reaction to BlackRocks initiative.

Etherscan also indicated a movement of $100 million of Circles USDC stablecoin to an address linked to a Securitize deployer. The motion is speculated to represent a seed investment into the new fund, although such connections have not been confirmed.

The venture into digital liquidity funds builds on BlackRocks ongoing exploration of digital assets. The company made headlines by listing a spot-based Bitcoin ETF in January, which quickly amassed over $15 billion in assets under management. Additionally, a filing for a spot Ether (ETH) ETF was made last year, signaling BlackRocks deepening commitment to integrating blockchain technologies into its offerings.

In a January CNBC interview, BlackRock CEO Larry Fink shared that BTC and ETH ETFs are preliminary steps toward a broader shift toward asset tokenization. According to Fink, this represents a future direction for the financial sector, offering prospects for quicker settlements and enhanced operational efficiencies.

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BlackRock starts digital asset fund supported by $100m on Ethereum - crypto.news

Gaming activity is bubbling up on buzzy new Ethereum scaler Blast, and while one game has already fallen victim to an exploit on the nascent network, another is yielding rave reviews from players while driving Blasts most-traded token.

Crypto Valleys is the game in question, and it initially appears to tread upon similar ground as Pixels, the popular farming game on competing scaler Ronin. But while Pixels is a relatively robust experience akin to traditional video games, Crypto Valleysat least in its initial incarnationis focused on keeping DeFi degens coming back to harvest more gains.

In the web-based game, youll buy NFT-based seeds with the games YIELD token and plant them, and then eventually harvest the produce to earn even more YIELD. Rinse and repeat. Crypto Valleys has more ambitious aims ahead, as spelled out in the games documentation and in social media threads, but for now it looks pretty simple and streamlined.

The addition of gacha elements helps spice things up, coming in the form of NFT seed packs with randomized contents. Gacha games are akin to loot boxes in many popular games, which promise rewards that could range wildly from common to extravagant. You dont know until you open them, however, which fuels the FOMO.

Image: Twitter

Want massive YIELD gains from your next crop? Well, those could be found in your next seed pack. Maybe. That kind of alluring possibility is ready-made to drive users to grab their Ethereum wallets, particularly when theres a surging token driving it all.

Crypto Valleys YIELD is currently the most-traded token across all of Blast, per data from DexScreener, with about $13 million worth of trading volume over the past 24 hours.

The price pumped to about $17 on Thursday and then cooled off into Friday, but has been rising again Saturday to a current price of $13.60 as of this writing. That gives the token a $95 million market cap. The tokens were initially offered for sale in-game at a price of around $0.15 eachjust last week.

Amid growing buzz around the game, Crypto Valleys gave out a free-to-mint collection of 1,500 character NFTs. The assets now start at about 0.4 ETH, or $1,350 as of this writing, on the secondary market and have yielded over $4 million worth of trading volume so far.

Crypto Valleys has drawn comparisons to earlier crypto game DeFi Kingdoms, which wrapped the mechanics of decentralized finance trading into a fantasy role-player.

Image: Twitter

But the gacha mechanics, paired with the potential yield opportunities around the booming Blast ecosystem, appear to have supercharged the serotonin hit that players are getting this time around. Players can also earn Blast Gold, or special points that go towards the upcoming Blast network token airdrop for users.

Over the last couple of days, the hype tweets around finding rare, valuable seeds and sharing farming strategies have been steadily circulating across Crypto Twitter. Well see whether degens stick around long enough to watch these digital cropsand the game around themmature, or if they quickly move on to find the next juicy yield elsewhere.

Edited by Ryan Ozawa

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DeFi Farming Game 'Crypto Valleys' Is Giving Players Juicy YIELD on Ethereum L2 Blast - Decrypt

Policy March 22, 2024, 7:41PM EDT Published 1 minute earlier on

The Securities and Exchange Commission is again delaying making a decision on whether to approve of the proposed Grayscale Ethereum Futures Trust exchange-traded fund (ETF), according to a recent filing.

In a document filed late on Friday, the SEC said it would take until May 30, 2024, to decide whether to approve of Grayscale's ether futures ETF.

"The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein," the agency said in the filing.

Bloomberg ETF analyst James Seyffart said the delay was expected, in a post on X.

Seyffart has previously said that Grayscale is playing chess, not checkers as a way to get the SEC to eventually approve of a spot Ethereum ETF.

"I doubt Grayscale even intends to launch this. It's nothing but a trojan horse to get a 19b-4 order from the SEC," Seyffart said in November on X. "And watch them try to either approve and argue why this is different from spot. Or Deny and argue why 1933 act products are meaningfully different from 1940 act products. Both are bad for SEC IMO. Genius move IMO."

The agency previously delayed its time to consider Grayscale's ether futures ETF a few times most recently in December when it asked for public comments.

Yet the SEC previously greenlit a batch of ether futures ETFs in October 2023, including from ProShares, VanEck and Bitwise.

The crypto industry has been focused on a spot ether ETF which gives investors exposure to the cryptocurrency without needing to directly purchase or hold the asset.

Leading financial institutions, such as Fidelity and BlackRock, have applied for the spot product over the past few months. Optimism for the SEC approving such a product has since dwindled over the past few weeks. Another Bloomberg ETF analyst, Eric Balchunas, recently dropped his estimate of the chances of a spot Ethereum ETF approval by May from about 70 percent to 30 percent.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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SEC delays decision on Grayscale's Ethereum Futures Trust ETF, again - The Block

After a promising climb, the price of Ethereum has failed to punch through the expected resistance level, leaving investors pondering its future trajectory. So, did Ethereum's recovery attempt falter? The charts suggest a pause.

A closer look at the price movement reveals ETH's resilience. After a steep climb to around $3,500, Ethereum seemed poised to break through and set new highs. However, it appears to have stumbled near the $3,491 mark.Ethereum/USD Chart by TradingView

On the flip side, Ethereum's price has not dropped drastically either. It is hovering above the $3,317 support level, which is critical to keep recovery hopes alive.

If ETH holds steady and bounces back from the current support level, there could be another shot at breaking through the resistance. The next target in case of a breakthrough would be near the $3,900 zone. On the other hand, if the support fails, we might see the price dip toward the next support at around $2,869.

Despite the current pause, Ethereum's recovery has not failed; it is simply in a state of consolidation; soon we might expect a volatility surge and a corresponding move.

Cardano in good state

Cardano has almost reached a substantial support level, which could be the "adamantium" ground a point so strong that the price has a hard time breaking below it that it needs to bounce back up. ADA's price is getting close to the $0.54 mark, the go-to level to watch for now.

After a peak near $0.69, ADA has been on a slide. But it is approaching a price where, in the past, we have seen the trend reverse from falling to climbing. This is what some traders might call "adamantium" level.

If ADA holds above this support and starts to rise, we could be looking at a potential growth scenario. The first goal would be to tackle the immediate resistance level around $0.60. Climbing past this could put ADA in a better spot for growth, perhaps even reaching for higher levels like $0.67.

Solana's hidden potential

The charts give us a clue about where it might head next. There is a pattern where SOL is not making new highs or lows; it is sort of moving sideways. This could mean it is gearing up to keep going with the trend it was already on.

Right now, SOL is trading around $169.27. It had shot up past $200 not long ago but could not stay there. Now, if you are looking for where SOL might find a floor to bounce off from, keep an eye on the $129.35 mark. That has been a place in the past where the price has not gone much lower. It is like a strong line of defense.

As for growth, if SOL can get the wind back in its sails and start climbing, the first big test will be breaking past the $200 level again. That is where it struggled before. If it can go beyond that, it might just set off on another rally.

But what's next for SOL? If it stays above the support level and the market's feeling good, we might see it take another shot at going up. However, if it breaks down below that $129.35 level, it might have to find a new bottom before trying again.

So, what's the hidden signal in SOLs price chart? It is this: the trend might just keep going. Since SOL is not making big jumps or drops, it is likely to stick with the path it has been on. That means more sideways movement until it either breaks out or down.

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Did Ethereum (ETH) Recovery Fail? Cardano (ADA) Close to Adamantium Support Level, Breaking Down Solana's ... - TradingView

Ethereum [ETH] net flows into crypto exchanges rallied to a two-year high this week amid the legal campaign to classify the leading altcoin as a security.

AMBCrypto previously reported that the US Securities and Exchanges Commission (SEC) had sent investigative subpoenas to U.S. companies, amongst which is the Swiss-based Ethereum Foundation, the non-profit entity that supports the network.

According to the report, the regulatory watchdog launched its investigation into the Ethereum Foundation after the Ethereum network transitioned from a Proof-of-Work consensus mechanism to a Proof-of-Stake (PoS) model in September 2022.

IntoTheBlocks data showed that ETH net flows into exchanges this week totaled $720 million. According to the data provider, the last time the coins weekly flow into exchanges was this high was in September 2022.

When an asset witnesses a rally in its net flow into exchanges, it generally indicates that its holders are moving their tokens onto trading platforms to sell for profit or hedge against further losses.

These inflows resulted in a minor uptick in ETHs exchange reserve during the period under review. According to CryptoQuants data, it increased by 1%. At press time, 14.2 million ETH valued at around $47 million were held across exchanges.

While the spike in ETHs inflow into exchanges this week was partly due to the SECs move against the Ethereum Foundation, it was also attributable to the general market decline recorded during that period.

Per CoinGeckos data, the global cryptocurrency market capitalization dropped by 4% in the past seven days due to the surge in coin sell-offs.

This weeks assessment of how profitable ETH transactions were, revealed significant bearish sentiments in the market.

ETHs Market Value to Realized Value (MVRV) ratio plummeted by 22%, to be spotted at 90% at press time. Likewise, the daily ratio of ETHs transaction volume in profit to loss plunged to a low of 0.664.

A holistic consideration of these two key on-chain metrics presents a divergence. ETHs MVRV ratio of 90% suggests potential undervaluation, which could mean it is a good time to buy.

How much are1,10,100 ETHs worth today?

On the other hand, the 0.664 daily ratio of ETHs transaction volume in profit to loss showed that there are more investors who are selling their coins at a loss.

This divergence suggests that although ETH is currently undervalued, and now may be a good time to buy. Short-term sentiment among investors remains cautious or bearish. This is because investors are willing to sell at a loss rather than hold or buy more coins.

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Why Ethereums new 2-year high should worry ETH holders like you - AMBCrypto News

As crypto prices have risen, much more pressure has been placed on the FTX bankruptcy process.

The core tension is whether customers are paid out in the crypto they supposedly had at the exchange or in an equivalent dollar value. So far, FTXs bankruptcy lawyers have steamrolled ahead with dollarized claims. Yet with bitcoin breaking new highs, ether retesting old ones and solana rallying hard, customers are unsurprisingly asking the question: Why shouldnt they be paid out in crypto?

Its certainly been done in other bankruptcy proceedings. While Mt Goxs process has taken a decade, the plan is to repay creditors in a combination of bitcoin and fiat currency. More recently, BlockFi has repaid creditors in crypto and Celsius is set to follow. While the FTX estate might argue that it only had a fraction of some cryptocurrencies, it certainly has plenty of others.

This would also have a big impact on claims. For instance, someone holding bitcoin would see the dollar value of their claim increase from $16,871 to around $66,000 today. Now, they likely wouldnt get all of that value, but they could get a greater amount. Instead, that value trickles down to other claimants, such as shareholders and government entities.

Some creditors are pushing heavily for claims to be in-kind. Law firm Moskowitz and Boies, which represents creditors in a class action lawsuit against the estates bankruptcy lawyers, filed an objection to estimate the claims when the exchange went bankrupt. This motion was backed by FTX creditor activist Sunil Kavuri, who runs an FTX customer ad-hoc committee voting block of over 1,300 creditors with over $680 million of claims.

While its late in the process, it seems like the sands might be starting to shift.

In a draft filing on Thursday, debtors proposed a structure for handing out the assets that would prioritize customers over governmental entities. For the first time, this raised the notion that some creditors might get further assets based on the value of their crypto at a later date.

After FTX customers and Alameda lenders are made whole based on the dollarized value of their claims, potentially with interest, and expenses and IRS payments are made any remaining funds would go to a Civil Remission Fund. This fund would then pay customers and Alameda lenders who have seen the value of their cryptocurrencies increase between the time FTX went bankrupt and when the Chapter 11 Disclosure Statement is approved by the Bankruptcy Court (estimated for later this year). But this could mean a bit of extra value going to customers.

Now the question is whether any money would be left over. Thats hard to estimate. But one creditor advocate has run the numbers and reckons FTX is looking at a $4.5 billion surplus at current prices over dollarized claims. These are funds that could have been handed out if payment was made in-kind but will trickle down to shareholders and other entities instead because the claims are dollarized. However, if there are any funds left at the bottom of this waterfall structure, then these may actually be returned to customers.

This surplus appears to be part of the reason the plan for FTX 2.0 was scrapped. With creditors seemingly made whole, theres less incentive for the estate to take on the additional risk of restarting the exchangeand thats not for a lack of buyers.

A look at a selection of stories that caught my attention this week.

One of my most peculiar experiences this week was getting a tip that an unnoticed GitHub comment revealed that the Ethereum Foundation had received a confidential voluntary request from a state authority. The comment was made in order to remove the Warrant Canary from its website, which was a symbol that the foundation hadnt received such a request.

Shortly after, Fortune revealed that the U.S. Securities and Exchange Commission issued subpoenas to firms that dealt with the Ethereum Foundation, citing people familiar with the matter. This further dampened hopes that the SEC will approve a spot Ethereum ETF any time soon. Although, some say thats a good thing.

Usually, when theres the notion of doubling your money in crypto, its a scam, but this time it was a bug. Just a few hours after I was put in touch with the Super Sushi Samurai team and had actually just tried out its idle Telegram game high volumes of its token were minted and sold on decentralized exchanges, draining funds from liquidity providers. This was possible because the token had a bug where if you sent your entire balance back to your own wallet it doubled the funds.

However, the funds may not entirely be lost. The person who drained the funds sent a message saying that it was a whitehat rescue hack. They provided details for contacting them and said that users should get reimbursed. The project has since reached out.

In the House, the stablecoin bill led by House Financial Services Committee Chair Patrick McHenry has encountered challenges, Sarah Wynn writes, making the likelihood of the bill passing the full House uncertain. Cody Carbone of the Chamber of Digital Commerce suggests the chances of it passing could be as high as 50% in the House but only 5% of it becoming law overall due to the dynamics at play.

In the Senate, Senators Kirsten Gillibrand and Cynthia Lummis are working on their own stablecoin bill. While there's bipartisan support and willingness to move forward, uncertainties around details and strategy persist, causing frustration among stakeholders.

Overall, the timeline for passing stablecoin legislation remains uncertain, with stakeholders hoping for progress before the election cycle intensifies. The focus may shift to positioning legislative efforts for the next Congress if significant progress isn't achieved by the end of the year.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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The Pulse: FTX recovery may include recent prices; Ethereums missing canary - The Block

Asset management company BlackRock is launching a tokenized digital asset fund, a new SEC filing on Tuesday shows. In turn, BlackRock seeded the fund by depositing $100 million in USDC stablecoin on the Ethereum Network.

JUST IN: BlackRock launches digital asset fund and deposits $100 million $USDC on the Ethereum network.

The BlackRock USD Institutional Digital Liquidity Fund was incorporated in the British Virgin Islands and will be launched in partnership with Securitize, a tokenization firm. According to wallet data from Etherscan, BlackRock deposited Circles USDC stablecoin into a wallet on the Ethereum Network.

BlackRock is continuing its journey into the digital asset industry following its Spot Bitcoin ETF launch earlier this year. The companys Bitcoin ETF has been one of the best-performing Bitcoin products out of the field of new launches in 2024. Additionally, BlackRock also has a pending application for a spot Ethereum ETHER (ETH) ETF, which the SEC is putting off approval of.

In aJanuary interviewwith CNBC, BlackRock CEO Larry Fink said that BTC and ETH ETFs are just stepping stones towards tokenization, and I really do believe this is where were going to be going. Now, we are seeing the asset manager shift towards tokenization with a major step.

Also Read: Solana (SOL) Market Cap Predicted to Reach $1 Trillion

Furthermore, BlackRocks digital asset fund also represents a major milestone for the tokenization of real-world assets. Tokenization is a growing sector in the intersection of digital assets and traditional finance. It involves placing traditional assets on blockchain rails in pursuit of faster settlements and higher efficiency.

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BlackRock Launches Digital Asset Fund Backed by $100M on Ethereum - Watcher Guru

Denys Serhiichuk

Has price of Ethereum (ETH) accumulated enough strength for further rise?

The bounce back continues on the cryptocurrency market, according to CoinMarketCap.

The rate of Ethereum (ETH) has increased by 5.59% over the last 24 hours.

On the hourly chart, the price of ETH is in the middle of the local channel. At the moment, the rate is far from key levels, which means that neither bulls nor bears have seized the initiative.

If buyers want to get back in the game, they need to restore the price above the $3,600 zone.

On the bigger time frame, one should focus on the daily bar closure in terms of the nearest level of $3,547. If it happens above that and with no long wick, growth is likely to continue to the $3,700 area.

From the midterm point of view, one should wait until the candle closes. If the bar closes around current prices, bulls may again seize the initiative, which can lead to a test of the vital $4,000 area.

Ethereum is trading at $3,547 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins. Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

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Ethereum (ETH) Price Prediction for March 21 - U.Today

The BlackRock USD Institutional Digital Liquidity Fund has the token ticker BUIDL

BlackRock, the world's largest asset manager, tokenized a recently-launched fund on the Ethereum blockchain.

The BlackRock USD Institutional Digital Liquidity Fund, which has the token ticker BUIDL, was launched 15 days ago on Ethereum, according to Etherscan data, but was incorporated last year, a filing to the U.S. Securities and Exchange Commission shows.

Securitize Markets, a company specializing in tokenized securities, is likely the broker of the fund.

Requests for comment from BlackRock and Securitize were not answered by publication time.

The offering is open-ended, meaning that there is no maximum limit on the amount of funds that can be invested, and has a minimum investment threshold of $100,000.

The fund was issued with exemptions under Rule 506(c) and Section 3(c) of the Investment Company Act. Rule 506(c) allows BlackRock to advertise the securities offering to a wider audience, as long as all purchasers are verified accredited investors.

Sales commissions of approximately $525,000 are mentioned in the filing, with Securitize Markets listed as the recipient. This implies that Securitize Markets may play a role as a broker or placement agent.

Securitize lists products including private equity funds by Hamilton Lane and KKR, a U.S. Treasuries fund by Arca, and a venture capital fund by Blockchain Capital, but hasn't listed BlackRock's BUIDL fund on the "invest" section of its website.

BlackRock's iShares Bitcoin Trust is the largest spot Bitcoin ETF after Grayscale's GBTC, with over $6 billion in assets under management.

The investments giant also filed to list a spot Ethereum ETF, which CEO Larry Fink said would be just stepping stones towards tokenization," adding that the technology to tokenize everything already exists.

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BlackRock Tokenizes Fund for Accredited Investors on Ethereum Blockchain - The Defiant - DeFi News

The crypto industry continues to display a negative trend for the second consecutive day, indicating a significant correction in the market. Further, top altcoins continue to bleed, displaying increased selling-over-buying pressure in the crypto space.

On the other hand, Ethereum price has lost over 17% within the past seven days, but the token has added approximately 20% over the past 30 days, and its YTD stands at 46.31%. This hints at a positive price action for the altcoin in the long term.

The Ethereum price has displayed a significant uptrend in its valuation over the past few months, indicating a rising bullish sentiment in the crypto market. Further, the ETH price had added approximately 37% to its portfolio during the last quarter of 2023, resulting in it concluding the year on a positive note.

The ETH price continued to gain momentum for the first two weeks of the year, following which the market experienced a significant correction in valuation. However, after testing its low of $2,172, the bulls regained momentum and displayed a bullish price action for a brief period.

The leader of altcoins, Ethereum, recorded a notable run of over 88.5% over the next 46 days, after which the token faced rejection at the resistance level of $4,096. Since then, the price has been trading under a bearish influence. Positively, the Cross EMA 50/200-day acts as a support, highlighting a bullish outlook in the long term perspective.

The technical indicator, MACD, displays a rising red histogram, highlighting increased selling pressure pressure in the crypto space. Moreover, the averages show a constant decline in the chart, suggesting a negative price action for the altcoin this week.

Also Read: Top 6 Altcoins Set for 6x Rally in 2024: Analyst Lark Davis List Hot Picks

Considering the present market sentiments, if the Ethereum ETF hype increases, the bulls will regain power, and the Ethereum price will start trading positively and is predicted to test its upper resistance level of $4,500 during Q2.

Suppose an unfavorable event occurs, and the crypto industry experiences a bearish trend reversal. In that case, the ETH price will lose momentum and fall to test its lower support level of $3,000 during the upcoming months.

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Ethereum Price Prediction For Q2 Ahead Of The ETF Approval! - Coinpedia Fintech News