BNY sees 'FOMO' driving asset managers into tokenized funds
BNY Mellon observes a "FOMO" effect driving asset managers, including major firms like BlackRock, to explore tokenized funds, despite unresolved regulatory and infrastructure questions. This trend aims to place traditional financial products on blockchain rails for benefits like faster settlement and broader access.
Why it matters
The move towards tokenized funds could revolutionize traditional finance by leveraging blockchain technology, potentially transforming how assets are traded, settled, and accessed globally, but faces significant regulatory hurdles.
"We have a number of different projects in flight, different variants to effectively tokenize ETFs," Ben Slavin, global head of exchange-traded funds (ETFs) at BNY, said in an interview.
Reports on an industry trend and an interview with a BNY executive, presenting their perspective and market observations.
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