Evolving Money: The Tokenization Tipping Point (Sponsored Content)

Since you're a subscriber to this Bloomberg podcast, we thought you'd be interested in a sponsored podcast called Evolving Money. Produced by Coinbase and Bloomberg Media Studios, it explains how institutional investors are adopting the world's newest asset class, crypto. Here's a recent episode. There's been a lot of frustration in the crypto community over the past fifteen years because the the Wall Street and financial services industries have ignored crypto or outright been opposed to it. That's Rick Edelman, a longtime financial advisor and podcaster in the financial world and the perfect guest to kick off this episode of Evolving Money. The reason that there has been such antipathy, about crypto in its early years is because it didn't get invented by Wall Street, and Wall Street doesn't like what it doesn't control and own. So better to quash it if you can, ignore it if you can't, and they did that pretty successfully for ten years. But eventually, they began to realize it's here to stay. And, oh, by the way, the technology is in fact pretty cool. Welcome to Evolving Money. I'm your host, Angie Lau. I spent decades as a journalist covering the financial industry and, well, this is the biggest story yet. This show is co produced by Coinbase, one of the largest cryptocurrency platforms in the world, and Bloomberg Media Studios. In this series, we are exploring how crypto is being adopted by traditional financial institutions as the next logical evolution of the monetary system. This episode is about tokenization. That's the process of representing a real world asset or financial instrument on blockchain. Now in less than three years, the amount of tokenized assets has grown eightfold to more than 30,000,000,000 US dollars across equities, fixed income, private assets, real estate, and a whole lot more. And the tokenization revolution is still in its early stages. Now recently, we've seen some of the largest traditional asset management companies embrace it in a big way. This is what I'm talking about. BlackRock, they've launched what they call the Biddle Fund on Ethereum. It's a tokenized money market fund they've made available to qualified investors. The total value of those tokens, oh, around $2,800,000,000. And then we've got Fidelity. They've rolled out their own tokenized money market fund currently valued at over $200,000,000. JPMorgan and Goldman Sachs, they've also made their tokenized assets available to their investors in various ways. But why are they doing it? Well, there are three main drivers. We've got liquidity, broader access, and operational efficiency. We're gonna touch on all three of those topics with our next two guests. Rick Edelman, who you've already heard from, he launched the Digital Assets Council of Financial Professionals, the first educational platform helping financial advisors responsibly navigate crypto, blockchain, and tokenized assets. He's uber bullish on the opportunities tokenization is bringing to the market. And Scott Lucas, head of markets digital assets with JPMorgan. He's actively integrating tokenization and blockchain technology into JPMorgan's …