BlackRock (BLK) closed at $660.10 in the latest trading session, marking a -1.31% move from the prior day.
Hunt away from the headlines and you’ll find plenty of Wall Street’s biggest names exploring this idea. This week Citi became the latest large institution to take a step into tokenisation by allowing big-money clients to turn their deposits into tokens. Asset managers from BlackRock to Abrdn, and investment banks including JPMorgan and Morgan Stanley are also either investing in tokenisation companies, or themselves exploring how to turn traditional assets such as bonds and funds, into digital versions.
BlackRock (NYSE:BLK)'s Chief Investment Officer for global fixed income, Rick Rieder, has expressed his anticipation that the Federal Reserve might soon end its current cycle of interest rate hikes, designed to control inflation. This perspective was shared after the Federal Reserve's decision to pause rate hikes twice this year. Despite maintaining interest rates at a range of 5.25% to 5.5%, the highest since 2001, officials have not ruled out another increase before year-end.