BlackRock Brings Blockchain Push to a $150 Billion Treasury Fund

BlackRock Inc. signaled its growing ambition to bring digital technology to mainstream institutional finance, filing to launch a new share class of its $150 billion money market fund that is registered on a blockchain.

The world’s largest asset manager submitted paperwork to the US Securities and Exchange Commission this week to create a blockchain-based share class — labeled DLT, an acronym for distributed ledger technology — for its BlackRock’s BLF Treasury Trust Fund, a cornerstone of cash management.

DLT will seek to utilize blockchain technology to record share ownership or streamline certain fund operations for the money market fund, which ...