Overview
BlackRock has recently announced the addition of four new positions in its digital asset team, reflecting heightened interest in cryptocurrency within the firm. These roles include positions such as Director of Digital Assets and ETF Legal Counsel, aimed at expanding the company’s influence in tokenized finance.
Key Highlights
- BlackRock is gearing up for a stronger cryptocurrency focus, as indicated by new job postings for various roles in its digital asset division.
- The initiative coincides with the growing interest in tokenized finance, supported by BlackRock’s sizable $1.7 billion BUIDL fund.
- Secrecy surrounds BlackRock’s future cryptocurrency product plans despite the industry seeing a push for Solana, XRP, and Litecoin ETFs.
Job Details
The roles recently added include:
- Director of Digital Assets
- Director of Regulatory Affairs
- Vice President for Digital Asset and ETF Legal Counsel
- Associate for Digital Asset
These positions are primarily located in New York, with plans for further expansion. The job descriptions remain vague, not revealing specific future projects.
Legal Counsel Position
For the legal counsel role, BlackRock seeks a candidate to assist with the forthcoming cryptocurrency ETF launches. To date, they have introduced two spot ETF products, namely:
- iShares Bitcoin Trust (IBIT)
- iShares Ethereum Trust (ETHE)
Other asset managers have applied for funds related to multiple cryptocurrencies, including Solana (SOL), XRP, and Litecoin (LTC); however, BlackRock has not made any public plans to offer similar products.
Focus on Tokenization
BlackRock’s emphasis on tokenization marks a significant shift in its operational strategy, establishing itself as a leader in this evolving sector. The firm’s BlackRock USD Institutional Digital Liquidity Fund (BUIDL), introduced in 2023, currently stands as the largest tokenized fund, attracting over $1.7 billion in inflows.
