BlackRock is exploring how to bring exchange-traded funds (ETFs) onto blockchain rails, following the success of its $2 billion tokenized money market fund, BUIDL.

Figure Technologies, a blockchain-based lender founded by SoFi co-founder Mike Cagney, has priced its initial public offering at $25 a share, raising nearly $788 million ahead of its Nasdaq debut.

Inflation edged higher in August, rising 2.9% year-over-year, as gas and food prices pushed up the Consumer Price Index, according to government data released Thursday.

Top stories in the Crypto Roundup today:

• BlackRock Eyes Tokenized ETFs After $2B Blockchain Fund Success
• Blockchain Lender Figure Raises $788M in Nasdaq IPO, Will Trade Under ‘FIGR’
• August Inflation Rises to 2.9%, Clouding Fed’s Rate Cut Plans Amid Jobless Spike

BlackRock Eyes Tokenized ETFs After $2B Blockchain Fund Success

BlackRock is exploring how to bring exchange-traded funds (ETFs) onto blockchain rails, following the success of its $2 billion tokenized money market fund, BUIDL.

The firm is working on ways to tokenize ETFs according to people familiar with the matter. The move could allow ETFs to trade beyond Wall Street’s hours, enable instant settlement and make U.S. products more accessible to global investors.

The effort follows BlackRock’s breakout bitcoin ETF launch and earlier blockchain experiments, including tokenized fund shares tested on JPMorgan’s Kinexys platform. CEO Larry Fink has said all financial assets can eventually be tokenized.

Blockchain Lender Figure Raises $788M in Nasdaq IPO, Will Trade Under ‘FIGR’

Figure Technologies, a blockchain-based lender founded by SoFi co-founder Mike Cagney, has priced its initial public offering at $25 a share, raising nearly $788 million ahead of its Nasdaq debut.

The offering includes 31.5 million shares of Class A stock, with about 23.5 million issued by Figure and the rest coming from existing shareholders. Underwriters have the option to purchase an additional 4.7 million shares, which could bring the total closer to $905 million.

Shares are set to begin trading today under the ticker symbol “FIGR.” The IPO, initially expected to raise $526 million, was upsized in response to investor demand.

August Inflation Rises to 2.9%, Clouding Fed’s Rate Cut Plans Amid Jobless Spike

Inflation edged higher in August, rising 2.9% year-over-year, as gas and food prices pushed up the Consumer Price Index, according to government data released Thursday.

Core inflation, which excludes food and energy, held steady at 3.1%. On a monthly basis, prices rose 0.4%, beating expectations.

But it was the labor market that grabbed Wall Street’s attention. Jobless claims jumped to 263,000, the highest since 2021, signaling possible cracks in hiring and adding pressure on the Federal Reserve to cut interest rates.

Markets now see an 88% chance of a quarter-point cut next week, with some traders betting on a larger move.

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