Welcome back to The Breakdown with me, NLW.

It's a daily podcast on Macro, Bitcoin, and the Big Picture Power Shifts remaking our world.

What's going on, guys? It is Wednesday, March 20th, and today we are talking tokenization.

Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,

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breakdown pod. Hello, friends. there are a bunch of interesting things

happening as I'm prepping this. We have some Ethereum fud with the SEC. We've got Powell's

FOMC, so it seems like tomorrow will be juicy. For now, though, we are talking BlackRock,

and specifically tokenization at BlackRock. The big Bitcoin ETF winner has applied to launch

a new fund called the Institutional Digital

Liquidity Fund. The fund will be launched in partnership with asset tokenization firm Securitize

who are acting as a sales agent. We're currently going off basically zero details other than the

contents of the SEC filing. The filing says the fund will have a $100,000 minimum investment,

an indefinite size, and is paying

securitize over half a billion dollars in sales commissions. In other words, it looks like an

institutional rather than a retail offering. The filing doesn't specifically describe the assets

that will be held by the fund. What we do know is that BlackRock CEO Larry Fink is very

interested in extending the firm's digital asset strategy into real-world

asset tokenization. While he was doing his January media tour for the Bitcoin ETF, he refused

to accept framing that painted digital assets as completely separate from RWA's. In other words,

to the question of Bitcoin or blockchain, Fink was somehow the first of his ilk to answer,

...