BlackRock, the world's largest asset manager, recently disclosed that it will purchase UNI, the native token of the decentralized exchange Uniswap. Although the specific amount to be purchased has not been disclosed, the news has already sent shockwaves through the crypto market.
Deepening cooperation with Uniswap, with a dual-track approach of capital and technology.
According to Fortune magazine, this acquisition of UNI comes as BlackRock announces the listing of its U.S. Treasury-backed digital token, BUIDL, on the Uniswap platform. Through a partnership with tokenization company Securitize, BlackRock is enabling BUIDL to circulate within a decentralized finance (DeFi) framework, allowing it to be traded by select institutional investors.
Against this backdrop, the purchase of UNI is seen as a strategic move. On one hand, UNI is a crucial token within the Uniswap ecosystem, representing platform governance and value metrics; on the other hand, this move also symbolizes BlackRock's affirmation of Uniswap's technological foundation and business model. In other words, BlackRock is not only bringing its own assets into the DeFi arena but also simultaneously investing in the infrastructure itself.
The shift in attitude of traditional financial giants
For a long time, DeFi has been regarded as an experimental field for the crypto-native community, emphasizing decentralization, smart contracts, and automated market-making mechanisms, which stands in stark contrast to the traditional financial model that relies on centralized intermediaries. However, with the rising trend of asset tokenization, more and more large financial institutions are beginning to try to put their assets on the blockchain.
Market analysts believe that when one of the world's most influential asset management institutions chooses to hold DeFi protocol tokens, it will have a demonstration effect on other traditional institutions, potentially accelerating the inflow of more funds into the decentralized finance sector.
UNI jumped immediately
Fueled by this positive news, the UNI token surged briefly, reaching a high of $4.50. However, at the time of writing, the price has since retreated, currently trading at $4.15, representing a 23% increase in the past 24 hours.
