- Blackrock launched the USD Institutional Digital Fund (BUIDL), consisting of seven blockchains, which brought in $1.7 billion.
- BlackRock released its Bitcoin Exchange-Traded Product (ETP) to trade on Xetra and Euronext Paris.
- Solana (SOL) decreased by 4.99% to reach $137.95 but remained beneath essential resistance points.
The asset management leader BlackRock continues its blockchain approach through a new investment fund designed specifically for institutional clients on Solana. According to the Fortune report, the new USD Institutional Digital Fund (BUIDL) operates on seven blockchain networks at once.
As an asset management titan with $11.6 trillion in its funds, BlackRock keeps integrating cryptocurrency and blockchain solutions into its financial portfolio. Since March, when BUIDL started operations, it has attracted $1.7 billion in assets while experts estimate the fund will reach $2 billion before April.
The Bitcoin Exchange-Traded Product (ETP) entered the European market on Tuesday when BlackRock unveiled its crypto offering in this region. The fund operates for trading across Xetra, Euronext Paris, and Euronext Amsterdam as the company expands further into digital asset markets.
Blockchain Gains Momentum as Global Investment Giants Expand Adoption
Franklin Templeton entered the blockchain sector in February by launching a money market fund that runs on the Solana network. Major financial institutions demonstrate increasing interest in blockchain technology for investment products through this decision.
BlackRock continues expanding its cryptocurrency investments through ETFs for Bitcoin and Ethereum which currently operate throughout the United States as well as Canada and Europe. CEO Larry Fink reaffirmed the blockchain revolution as he stated that this innovative technology will establish itself as a fundamental force in building the financial instruments of the future.
BlackRock has decided to direct its attention toward asset tokenization because blockchain-powered investment vehicles represent its new strategic development. Fink declared that conventional financial assets transitioning onto blockchain technology will reshape investing worlds.
The USD Institutional Digital Fund (BUIDL) operates presently across several blockchains, which include Ethereum together with Optimism, Aptos, Avalanche, Arbitrum and Polygon. The fund provides institutional investors an easy path to blockchain assets through its cash reserve and US Treasury bill support system which creates familiar security measures.
The $1.7 billion BlackRock allocated to its BUIDL program contributes to a growing momentum for the initiative as investors show increasing faith in blockchain-based finance. Under this move, the network continues to establish itself as a go-to solution for high-speed and low-cost transaction processing, which attracts institutional investors entering the blockchain market.
Solana Price Analysis
According to CoinMarketCap data, Solana (SOL) maintains a market value of $137.95 with a 4.99% drop from yesterday according to the trading reports on March 27. The price dynamics of Solana during trading hours reached the maximum point at $145.49 followed by a minimum value at $136.75. SOL gained 3.30% during the recent week above the 0.70% rise recorded by the overall crypto market.
The present market trend for SOL shows a downward movement since it continues below its 50-day SMA at $158.36 and 100-day SMA at $185.84. SOL maintains a neutral position in the market according to the RSI reading of 51.66. Analysts view the bearish trend indicators that appear through the -6.99 MACD value negative reading. The technical levels for SOL show $120 as the immediate support and $100 as the following robust support, while $150 serves as the initial resistance until it reaches $176.
The market observed symmetric triangular patterns, which indicate that SOL could rise to $152 after resistance levels break. The mixed technical indicators of Solana need traders to watch the $150 mark to establish whether a bullish rise will occur or half-and-half conditions might develop. Investors should conduct research before making crypto investments because they always contain significant risks.
