BlackRock, one of the world’s largest asset managers, is making significant moves towards the Solana 
$177 blockchain network. The company plans to integrate a tokenized money market fund into Solana, which is expected to enhance the impact of blockchain technology on the cryptocurrency market. Following this announcement, Solana’s value increased by 19%, indicating strong market interest. Experts highlight that the fund’s 24/7 trading capabilities provide financial flexibility for investors.
Technological Move from BlackRock to Solana
BlackRock’s tokenized money market fund, BUIDL, valued at $1.7 billion, is being integrated into the Solana network. This initiative aims to merge traditional financial products with modern blockchain infrastructure. Initially launched with six different blockchain networks including Ethereum 
$2,537, Solana becomes the seventh supported network.
The fund offers short-term cash management for investors while allowing continuous trading. This flexibility, which is absent in traditional money market funds, presents a significant advantage for institutional investors. Additionally, returns generated through the fund can be monitored in real-time.
The 19% weekly increase in Solana’s value following this announcement shows investors’ positive reception towards the project. The advantages of blockchain infrastructure, including low transaction costs and high processing speed, make such funds more appealing.
Experts Highlight Flexibility and Speed
Michael Sonnenshein, COO of the tokenization platform Securitize, which collaborates with BlackRock, states they aim to make money market funds more accessible. He emphasizes the goal of overcoming the limitations of traditional investment formats through blockchain technology.
Similarly, Lily Liu, President of the Solana Foundation, points out the benefits of on-chain finance. Liu mentions that assets that were previously stagnant in traditional brokerage accounts can now be utilized more actively.
These funds not only provide advantages in terms of extended trading hours but also offer transparency and traceability. The immutable nature of on-chain records allows investors secure and uninterrupted tracking opportunities.
