Before everyone gets too excited about the first onchain fund from Blackrock, here's a quick breakdown.

It's PR, it's not actually an onchain instrument in the way that crypto natives think of one.

- only 20 accredited investors ($5M min purchase)
- sold to friends of Blackrock
- mostly fully offchain in a DB

Head of Product (and inst. asset issuer onboarding) @plumenetwork. Building https://transferagentprotocol.xyz on it. Hosting /rwa and /plume

good endorsement of the fact that the interest ledger should be transparent and on a public blockchain

not in AWS or a private database

this collapses the cost of trust between LPs and fund leads

anyone should be able to calculate a fund's IRR / performance and have a cryptographic guarantee it's real and correct

andyjagoe.com // denim.vc // tokenizing real-world assets / onchain venture funds @fairmint // @alertcaster 

What would you define as onchain? The ownership record is onchain. What else would you want to see? “Everything” isn’t realistic