iShares Short Maturity Municipal Bond Active ETF (MEAR), an actively managed ETF fund under BlackRock, has completed a milestone municipal bond transaction on JPMorgan's blockchain platform. The fund purchased $6.5 million in bonds issued by the city of Quincy, Massachusetts, marking the first fully blockchain-based issuance and trading of municipal bonds. The MEAR fund currently has assets under management of approximately $750 million and has updated its prospectus to support bond settlement via blockchain platform.
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BlackRock’s MEAR Fund Completes First Blockchain Municipal Bond Transaction
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