BlackRock’s MEAR fund completes first blockchain municipal bond transaction
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2024-12-19 00:02 3,506
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Golden Finance reported that BlackRock’s actively managed ETF fund iShares Short Maturity Municipal Bond Active ETF (MEAR) completed a landmark municipal bond transaction through the JP Morgan blockchain platform.
The fund purchased a $6.5 million bond issued by the city of Quincy, Massachusetts, the first municipal bond issued and traded entirely based on blockchain technology. The MEAR fund, which currently has about $750 million under management, has updated its prospectus to support bond settlement via a blockchain platform.