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BlackRock's MEAR Fund completes its first municipal bond transaction on the Block chain
BlockBeats news, on December 18th, according to Bloomberg, iShares Short Maturity Municipal Bond Active ETF (MEAR), an actively managed ETF fund under BlackRock, completed a milestone municipal bond transaction on JPMorgan's blockchain platform. The fund purchased $6.5 million worth of bonds issued by the city of Quincy, Massachusetts, making it the first municipal bond issuance and transaction fully based on blockchain technology. The MEAR fund currently manages approximately $750 million and has updated its prospectus to support bond settlement through the blockchain platform.