A subsidiary of the United States Depository and Clearing Corporation (DTCC) has been granted access to services for tokenizing financial assets. As the transition to on-chain finance progresses, interest in Ethereum, a blockchain infrastructure, is also growing.
According to Reuters on the 12th, DTC, a subsidiary of the United States Depository Clearing & Clearing Corporation (DTCC), received a "no action" letter from the U.S. Securities and Exchange Commission (SEC), stating that it will not be subject to sanctions for operating tokenization services. This will allow DTC to offer services that tokenize stocks, exchange-traded funds (ETFs), and bonds on blockchains. The company plans to launch this service in earnest next year.
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Tokenization refers to the issuance of real-world assets, such as stocks, on a blockchain. Tokenizing stocks allows for 24-hour trading, similar to coin trading, and allows for immediate settlement. This also offers the advantages of increased liquidity and reduced transaction costs. Larry Fink, CEO of BlackRock, the world's largest asset management firm, has repeatedly emphasized the message that "the future of finance is tokenization."
Following the SEC's no-action letter, DTC will be able to offer tokenization services on various blockchains for the next three years. The company plans to unveil specific details of these services in the coming months.
Tokenization infrastructure is currently concentrated on the Ethereum chain. According to RWAxyz, as of 2:50 PM on the 12th, approximately 66% of the world's real-world assets (RWAs) were issued on Ethereum.
As asset issuance on the Ethereum chain increases, demand for the coin of the same name, Ethereum (ETH), which serves as a reserve currency, is also increasing. Institutional buying is also on the rise. Bitmine, which is accumulating ETH as a strategic reserve asset, announced that it purchased an additional 138,452 ETH last week. A Bitmine representative commented, "ETH has already bottomed out."
ETH spot ETF fund flows, another indicator of institutional buying, have also improved. On-chain analytics firm Glassnode announced on its official X (formerly Twitter) page on the 12th (local time), "ETH spot ETFs have halted their multi-week net outflows and recorded a small net inflow." Analysts suggest a return to net inflows could signal improved demand at the end of the year.
- Reporter Do Ye-ri
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