Financing Arrangement - A consortium led by Global Infrastructure Partners, part of BlackRock, is negotiating with banks to secure up to $10.3 billion in financing for Aramco's Jafurah gas development deal [1] - JPMorgan and Sumitomo Mitsui Banking are among the financial institutions involved in discussions to support the transaction [1] - The funding arrangement is expected to be divided into short-term and long-term loans [1] Subsidiary and Leaseback Agreement - A new subsidiary, Jafurah Midstream Gas Company (JMGC), will be responsible for leasing the development and usage rights of gas processing facilities within the Jafurah gas field [2] - These rights will be leased back to Aramco for a duration of 20 years [2] - This deal follows a previous $11 billion leaseback agreement involving Aramco's Jafurah gas processing facilities [2] Jafurah Gas Field Details - The Jafurah field is the largest non-associated gas development in Saudi Arabia, expected to hold 229 trillion standard cubic feet of raw gas and 75 billion stock tank barrels of condensate [3] - Aramco aims to increase its gas production capacity by 60% from 2021 to 2030 to meet the growing demand for gas [3] - JMGC will receive tariffs from Aramco in exchange for exclusive rights to process and treat raw gas from the field [3] Ownership Structure - Aramco will maintain a 51% ownership in JMGC, with the remaining 49% held by the investor group [4] - The parties involved, including Aramco, BlackRock, JPMorgan, and Sumitomo Mitsui Banking, have declined to comment on the financing details [4]

Core Insights - BlackRock is planning to tokenize its top-performing ETFs, marking a significant step in the integration of traditional finance with digital assets [1][4][7] Group 1: Tokenization Initiative - The initiative aims to convert ETFs with exposure to equities and bonds into blockchain-based tokens, enabling 24/7 trading and fractional ownership [2][3] - Tokenized ETFs could feature programmable elements like automated dividend distribution and enhance global access beyond traditional market hours [3][7] Group 2: Market Context and Competition - The move aligns with a broader trend on Wall Street exploring tokenization as the next frontier in financial markets, with other financial giants like Goldman Sachs and JPMorgan also testing tokenization [4][5] - BlackRock's existing presence in blockchain finance includes the USD Institutional Digital Liquidity Fund (BUIDL), the largest tokenized money market fund managing over $2.2 billion [6][7] Group 3: Leadership Perspective - CEO Larry Fink has emphasized the inevitability of tokenization, suggesting that "every financial asset can be tokenized" to enhance efficiency and reduce costs [8]

Group 1 - BlackRock Inc. is exploring the tokenization of its exchange-traded funds (ETFs), aligning with a broader trend in Wall Street to integrate real-world assets onto blockchains [1][2] - The tokenization would allow fund shares, typically traded during market hours, to be issued as tokens on the blockchain, pending regulatory approval [2] - BlackRock offers various ETFs under the iShares brand, including the iShares MSCI Emerging Markets ETF, iShares Bitcoin Trust ETF, and iShares Core S&P 500 ETF [3] Group 2 - BlackRock previously launched the BlackRock USD Institutional Digital Liquidity Fund, which allows qualified investors to earn U.S. dollar yields, marking its initial venture into tokenization [3][4] - The fund, initially launched on Ethereum, is now accessible on seven blockchains and has a market valuation exceeding $2 billion [4] - Nasdaq has filed with the SEC to allow trading of tokenized stocks, which will provide holders the same rights and benefits as traditional shares [4][5] Group 3 - Robinhood Markets has also launched tokenized stocks in Europe, including shares from notable private companies like OpenAI and SpaceX [5] - BlackRock shares closed 2.84% higher at $1,134.18, with a year-to-date gain of over 10% [5] - The stock currently shows a moderately high Momentum score but lags in the Value metric [6]

Core Insights - BlackRock Inc., the world's largest asset manager, is exploring the tokenization of its exchange-traded funds (ETFs) as part of a broader initiative on Wall Street to integrate real-world assets with blockchain technology [1][2] - The tokenization would allow fund shares, typically traded during market hours, to be issued as tokens on the blockchain, pending regulatory approval [2] - BlackRock has previously ventured into tokenization with the launch of the BlackRock USD Institutional Digital Liquidity Fund, which has a market valuation exceeding $2 billion [3][4] Group 1 - BlackRock is considering making its ETFs available for trading 24/7 through tokenization on blockchain platforms [2] - The company offers various ETFs under the iShares brand, including the iShares MSCI Emerging Markets ETF, iShares Bitcoin Trust ETF, and iShares Core S&P 500 ETF [2] - The BlackRock USD Institutional Digital Liquidity Fund was initially launched on Ethereum and is now accessible on seven blockchains [4] Group 2 - Nasdaq has filed with the SEC to allow trading of tokenized stocks, which will provide holders with the same rights as traditional shares [4] - Robinhood Markets has also launched tokenized stocks in Europe, including shares from companies like OpenAI and SpaceX [5] - BlackRock's stock closed 2.84% higher at $1,134.18, with a year-to-date gain of over 10% [5]

Core Insights - BlackRock is exploring the possibility of tokenizing exchange-traded funds (ETFs), which could fundamentally change the operation of one of Wall Street's most important investment products [1] - The company has previously seen success in the digital asset space, with its tokenized money market fund BUIDL growing to over $2 billion [1][2] - The tokenization of ETFs may lead to extended trading hours, easier access for overseas investors, and new uses as collateral in crypto networks [1][2] Group 1: Tokenization Technology - Tokenization creates digital versions of traditional assets, allowing them to flow on blockchain systems, potentially enabling 24-hour trading [2] - This technology could facilitate easier access to U.S. financial products for overseas investors and create new collateral uses in crypto networks [2] - BlackRock has been a proactive advocate for digital assets, testing tokenized fund share trading on JPMorgan's Onyx infrastructure [2] Group 2: Industry Trends - Interest in tokenization is rising within the industry, with companies like Franklin Templeton and BlackRock paving the way for this transition [2] - Analysts note that while the market for tokenized assets is still small, BlackRock's exploration indicates mainstream finance is beginning to test blockchain for reconstructing market infrastructure [5] Group 3: Challenges and Regulatory Environment - The transition to tokenized ETFs faces significant obstacles, including the need to coordinate existing clearing systems with blockchain's instantaneous trading capabilities [4] - The regulatory environment is becoming more accommodating, with policymakers showing openness to testing blockchain-based market projects in controlled settings [4] - Nasdaq has requested regulatory approval to allow investors to trade tokenized versions of stocks, marking a significant potential test of blockchain technology in the U.S. stock market [4]

Core Insights - BlackRock is exploring the conversion of its exchange-traded fund shares into blockchain-based tokens to enhance accessibility and mobility of its asset offerings [1] - The initiative builds on BlackRock's previous success with a tokenized money market fund that raised over two billion dollars [2] - Tokenized ETFs could enable trading beyond regular market hours and facilitate easier access for international investors [3] Group 1 - BlackRock has initiated testing of blockchain systems using JPMorgan's Kinexys platform to settle trades while integrating with traditional clearing systems [4] - The company faces challenges in aligning blockchain trading mechanics with existing Wall Street systems and ensuring compliance with current regulations [5] - BlackRock's efforts are part of a broader trend, with Nasdaq and other financial institutions also exploring tokenized financial products [6] Group 2 - CEO Larry Fink envisions a future where tokenization could impact nearly all financial assets, advocating for digital versions of traditional investments [7] - The potential success of tokenized ETFs could accelerate trade settlement processes and increase market flexibility for investors currently restricted from certain markets [8]

Group 1 - BlackRock is exploring the digitization of its investment products, specifically focusing on tokenizing exchange-traded funds (ETFs) for blockchain trading [1] - The company launched a tokenized money market fund named BUIDL in 2024, which has surpassed $2 billion in size and gained popularity on cryptocurrency platforms [1] - Tokenization allows for trading outside of traditional Wall Street hours, making U.S. products more accessible internationally and creating new collateral uses for crypto networks [1][2] Group 2 - BlackRock is actively supporting digital assets and has tested tokenized fund shares on JPMorgan's Onyx infrastructure, positioning itself as an early adopter of digital settlement models [2] - The transition to tokenized assets faces challenges, including the need for regulatory clarity and integration with existing clearing systems [2] - The current market size for tokenized assets is approximately $28 billion, while the U.S. ETF industry is valued in the trillions, indicating significant potential for growth in this area [3]

The world's largest asset manager BlackRock (NYSE: BLK) is planning to tokenize exchange-traded funds (ETFs) following the success of its Bitcoin ETF, Bloomberg reported on Sep. 11. Sources familiar with the matter told the publication that the Wall Street giant is exploring ways to make ETFs available as tokens on a blockchain. The firm is working toward tokenizing ETFs tied to real-world assets (RWAs) like stocks. Related: What is tokenization? Explained In simple words, tokenization refers to the proc ...

Group 1 - BlackRock is exploring the tokenization of exchange-traded funds (ETFs) linked to real-world assets, considering regulatory implications [1] - The company previously launched a tokenized money-market fund, BUIDL, which has surpassed $2 billion in assets [2] - Tokenization could enable trading outside traditional hours, enhance international access, and allow shares to be used as collateral in crypto networks [3] Group 2 - The financial industry is gaining momentum in tokenization, with firms like Franklin Templeton issuing tokenized share classes [4] - BlackRock has tested tokenized fund shares on JPMorgan's Onyx blockchain and believes all financial assets can be tokenized [4] - Tokenization could potentially tap into the $400 trillion traditional finance market, as stated by BlackRock's CEO [5] Group 3 - The tokenized real-world asset (RWA) market reached an all-time high of $26.5 billion in 2025, marking a 70% increase since the year's start [6] - The tokenized RWA market is projected to reach $16 trillion by 2030, with U.S. Treasuries expected to lead growth [7] - Tokenized U.S. Treasuries are anticipated to reach $4.2 billion this year, with both traditional banks and blockchain firms exploring RWA products [7]

Core Insights - BlackRock is exploring the tokenization of exchange-traded fund (ETF) shares to expand its digital asset infrastructure beyond traditional markets [1][2] - The initiative is part of a broader strategy that includes a $2.2 billion tokenized money-market fund launched in March 2024 and follows the introduction of its Bitcoin ETF [2][3] - CEO Larry Fink has emphasized that all financial assets can be tokenized, which would allow for trading outside standard hours and improve international access to US products [3] Regulatory and Market Context - BlackRock has tested tokenized fund shares using JPMorgan's Kinexys infrastructure, positioning itself as an early adopter of digital settlement models [4] - The tokenized money-market funds, excluding private credit, represent the largest category of real-world assets (RWA) with a market cap of $7.4 billion as of September 11 [4] - The evolution of regulatory frameworks is crucial as exchanges like Nasdaq are also moving towards trading tokenized stocks and ETFs [3][4] Challenges and Opportunities - Current challenges include reconciling ETF settlement through traditional Wall Street clearinghouses with the instant trading capabilities of blockchain [6] - The exploration of tokenized ETFs reflects a broader evaluation of blockchain technology in mainstream finance, aiming to enhance market infrastructure and improve collateral flows [7] - The combination of BlackRock's digital asset advocacy and regulatory shifts positions tokenized ETFs as a bridge between traditional and decentralized finance systems [7]