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UBS has launched the "UBS USD Money Market Investment Fund Token" (uMINT) on the Ethereum blockchain, responding to rising investor interest in tokenized financial assets. This initiative integrates ETH into traditional finance, with UBS offering institutional-grade cash management solutions. The move follows a successful pilot and aligns with a broader trend of financial institutions adopting blockchain technology for tokenized funds.
UBS is launching a tokenized money market investment fund on Ethereum, joining BlackRock and Franklin Templeton in embracing tokenization within traditional finance. The USD Money Market Investment Fund Token, or uMINT, will be backed by money market instruments, though it remains unclear if US Treasury assets will be included. This move reflects a growing investor interest in tokenized financial assets, despite ongoing caution from Wall Street regarding the broader crypto economy.
BlackRock Inc. has experienced its first net outflow from ESG funds in Europe in over three and a half years, with clients withdrawing $2.2 billion from sustainable open-ended and exchange-traded funds in the third quarter. This trend reflects a broader retreat from passive investment strategies, as highlighted by Morningstar Direct's analysis. The data marks a significant shift since Europe implemented its ESG disclosure regulations 14 quarters ago.
UBS Arena recently hosted the third annual 3 Keys Cup charity hockey tournament, raising over $180,000 for the 43 Oak Foundation, which supports underprivileged youth in hockey. The event featured teams from nine financial institutions and highlighted the foundation's mission to promote hockey in diverse communities while providing essential resources for young athletes. Sean Grevy, the foundation's founder, expressed pride in its growth, now assisting 170 families nationwide.
UBS has launched its first tokenized money market fund, uMINT, on the Ethereum blockchain, catering to rising investor demand for tokenized assets. Available exclusively through authorized partners, this fund combines blockchain efficiencies with UBS's investment standards, aiming to modernize fund distribution and issuance. The initiative aligns with UBS's broader strategy to integrate digital finance and distributed ledger technology across its operations.
UBS has launched its first Ethereum-based money market fund, uMINT, marking a significant step into tokenized financial products. The $5.7 trillion asset manager aims to meet the rising demand for tokenized assets, leveraging its global capabilities and collaborating with regulators. This initiative follows UBS's previous ventures into tokenization, including digital structured notes and a cross-border repo transaction on a public blockchain.
BlackRock Inc. is aiming to enhance its competitive edge against Vanguard Group Inc. by seeking approval to create exchange-traded fund share classes of its mutual funds. This strategy is designed to transfer the tax benefits associated with ETFs to a substantial new asset base, potentially saving clients billions in taxes.
BlackRock Inc. has received approval from Saudi Arabia to establish its regional headquarters in Riyadh, marking a significant step in the kingdom's efforts to attract financial firms. This move will enable BlackRock to enhance its operations across the Middle East. The company has been active in the region since founding BlackRock Saudi Arabia Company six years ago, operating under the regulation of the Capital Market Authority.
BlackRock Inc.’s Bitcoin fund experienced a record net inflow of $872 million, driven by speculation surrounding the upcoming US election. This surge marks the highest daily subscription for the iShares Bitcoin Trust, which has seen significant interest since its launch nine months ago, positioning it among the top ETFs globally.
Microsoft is set to report its fiscal first-quarter results, with analysts expecting earnings per share of $3.10 and revenue of $64.51 billion, reflecting a 14% annual growth. The company is revising its business segment reporting, anticipating $27.9 billion in revenue from the Productivity and Business Processes unit and $24.04 billion from the Intelligent Cloud segment, which includes Azure. As AI investments remain a focus, Microsoft is also expected to discuss increased spending on property and equipment during its conference call with analysts.
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