This is because tokenized assets will most likely be on Ethereum or Ethereum Layer 2s, and most stablecoins are Ethereum-based. And we all know who is leading the charge on Tokenzing assets – BlackRock. The BlackRock USD Institutional Digital Liquidity Fund (BUIDL), is on the Ethereum. BlackRock is Ethereum focused.

Nope. You are a normie making a call on a complex financial institution. They are selling multiple products. They have the ETF’s. Which they make money when people buy and sell. They hedge through futures and run a basis trade. They also have BUIDL. They run a derivatives desk. Have no idea what the coins can be used for or acting on behalf of a client who can own coins. They can be feeding one of multiple strategies or business lines.