BlackRock, crypto task force discuss ETP staking, tokenization
BlackRock met with the SEC Crypto Task Force to discuss staking in crypto exchange-traded products (ETPs) and the tokenization of securities. The company emphasized the importance of staking for Ether (ETH) ETPs, noting that successful Ether ETFs are less effective without it. Other issuers, like Grayscale, share this sentiment, with the NYSE proposing a rule change for staking services in Grayscale’s spot Ether ETFs. The SEC has delayed its decision on this rule change. BlackRock also addressed the tokenization of securities, highlighting benefits such as faster settlement times and lower costs. The firm offers a tokenized fund called BUIDL, valued at $2.9 billion. Robinhood is exploring securities tokenization to enable European retail investors to trade US stocks.
