Crypto Token UNI Jumps 14% - How Did BlackRock Drive The Rally?

BlackRock disclosed that it has made a strategic investment in Uniswap and purchased an undisclosed amount of UNI.

• BlackRock selected Uniswap to enable trading of its tokenized BUIDL shares using UniswapX technology.
• BUIDL, a blockchain-based fund which was launched in 2024, is fully backed by U.S. Treasury bills and cash.
• BlackRock CEO Larry Fink has been an advocate of blockchain-based finance as a way to cut costs and improve efficiency.

BlackRock (BLK), the world’s largest asset manager, said it will make shares of its tokenized U.S. Treasury fund, BUIDL, tradable on Uniswap, marking the asset manager’s first step into decentralized finance. 

At the time of writing UNI was up 14% to $3.85. 

The strategic integration to make BlackRock USD Institutional Digital Liquidity Fund (BUIDL) shares available to trade via UniswapX technology will enable onchain trading of BUIDL, both unlocking new liquidity options for BUIDL holders, and also marking a significant step in bridging the gap between traditional finance and DeFi. BUIDL, a blockchain-based fund which was launched in 2024, is fully backed by U.S. Treasury bills and cash.

Details 

With this integration of UniswapX and Securitize, investors now have the option to access available quotes across the market to swap BUIDL bilaterally with available whitelisted subscribers 24/7, 365 days a year, the statement said. 

As part of the move, BlackRock also disclosed that it has made a strategic investment in Uniswap and purchased an undisclosed amount of UNI. 

Securitize Markets will facilitate trading for any BUIDL investor who elects to participate through UniswapX’s RFQ framework. The automated system enables participants to identify the most competitive quote from an ecosystem of whitelisted market participants known as subscribers (including Flowdesk, Tokka Labs, and Wintermute), and settle the trade atomically onchain through immutable smart contracts. All investors utilizing the capability are pre-qualified and whitelisted through Securitize.

“Enabling BUIDL on UniswapX with BlackRock and Securitize supercharges our mission by creating efficient markets, better liquidity, and faster settlement. I’m excited to see what we build together,” said Hayden Adams, Uniswap Labs Founder and CEO.

BlackRock Making Moves

BlackRock's CEO Larry Fink has been an advocate of blockchain-based finance as a way to cut costs and improve efficiency. At the recently concluded World Economic Forum, he emphasized that tokenization could allow assets to move seamlessly between money market funds, equities, and bonds.

BlackRock also published a research report which backed Ethereum and said that Ethereum already underpins more than 65% of tokenized assets globally.

How Did Stocktwits Users React?

Retail sentiment around UNI trended in ‘bullish’ territory amid ‘high’ message volume. 

The crypto token has fallen nearly 58% over the past year.