UNI experienced a rapid surge of 40% within a short span after Uniswap’s announcement regarding BlackRock’s tokenized BUIDL fund being available for trading via UniswapX.

This integration links a leading asset manager to a decentralized exchange, garnering attention from both traders and institutional observers.

BlackRock Fund Trading Activated Through Uniswap

On February 11, Uniswap Labs announced a partnership with Securitize to facilitate trading of BlackRock’s USD Institutional Digital Liquidity Fund through its UniswapX request-for-quote trading system.

Investors are now able to exchange BUIDL with authorized counterparties using smart contracts for seamless transactions.

Hayden Adams, the CEO of Uniswap Labs, highlighted that this development aims to enhance market efficiency, while Carlos Domingo of Securitize noted its significance in merging traditional financial practices with blockchain trading.

Robert Mitchnick, BlackRock’s global head of digital assets, described the launch as a significant advancement for tokenized funds in decentralized financial ecosystems. While BlackRock confirmed an investment in the Uniswap ecosystem, the specifics were not revealed.

Market response was swift, with UNI climbing over 40% to hit $4.57 shortly after the announcement, showcasing the market’s keen interest in BlackRock’s participation.

Further Developments

Data from CoinGecko shows that while UNI’s excitement has slightly dwindled, it is still performing modestly well, trading around $3.40—a 5% increase over 24 hours despite a decline of 9% over a week and over 35% in the past month.

The integration reflects a broader trend of financial institutions adopting public blockchains for their offerings. Earlier this year, the Ethereum account noted that 35 significant firms, including BlackRock and JPMorgan, have initiated services on the network, covering various tokenized financial products.

Securitize, which manages over $4 billion in assets, has collaborated with major asset managers to tokenize funds, blending regulatory compliance with blockchain liquidity solutions.

Conclusion

The market fluctuations of UNI underline traders’ vigilant observation of institutional activities connected to decentralized finance.