BlackRock is in talks with the SEC to tokenize its flagship iShares ETFs, a shift that could turn mainstream funds into on‑chain collateral as BTC, ETH and SOL trade lower.
- BlackRock is discussing with the SEC how to tokenize its iShares ETF lineup, but CFO Martin Small says timing could range from 90 days to 12 months.
- Tokenized iShares would create programmable, 24/7‑settling ETF tokens that slot directly into DeFi collateral, lending and structured products, a shift Matt Hougan calls “very positive” for layer‑one chains and DeFi.
- As this narrative builds, Bitcoin trades near $69,520, Ethereum around $1,953 and Solana close to $82.14, all softer over the last 24 hours amid choppy macro sentiment.
BlackRock is quietly pushing the next phase of Wall Street’s on‑chain experiment: tokenized mainstream ETFs.
BlackRock–SEC talks
According to market reports, BlackRock is in active discussions with the U.S. Securities and Exchange Commission to tokenize its flagship iShares ETF lineup, moving traditional fund shares onto blockchain rails. BlackRock Chief Financial Officer Martin Small underscored the uncertainty around the timetable, saying he could not determine whether the process would be completed “in 90 days or 12 months.” That ambiguity captures where the industry sits now: the political will is forming, but the plumbing is still being negotiated.
Why tokenized iShares matter
Tokenizing iShares effectively turns the world’s largest ETF franchise into programmable, 24/7‑settling assets that can plug directly into on‑chain collateral, lending, and structured products. Matt Hougan framed the move as more than incremental, calling it “one of the key narratives to lead the market out of a bear market” and stressing that the development is “very positive for layer one blockchains and the decentralized finance sector.” For DeFi builders, tokenized iShares are not just another wrapper; they are a potential new base layer of collateral, with regulated cash flows and brand‑name issuers backing the tokens.
Market context and flows
The BlackRock headlines land as digital assets consolidate after a volatile stretch. Bitcoin (BTC) is trading near $69,520, down about 1.65% over the last 24 hours, with roughly $43.0B in spot volume and a 24‑hour range between approximately $66,300 and $70,000 on major venues. Ethereum (ETH) changes hands close to $1,953, lower by around 2.5% over the same period, on nearly $19.5B in turnover as traders digest recent drawdowns in the broader altcoin complex. Solana (SOL) trades around $82.14, off roughly 5.5% in the last 24 hours, with about $3.5B in volume and a live market cap near $47B.
This parabolic narrative shift comes as digital assets continue to function as a high‑beta expression of macro risk appetite, with BlackRock’s tokenization push signaling that the next leg of growth may be driven less by memetics and more by regulated, yield‑bearing assets moving directly onto public chains.
