Online reports, according to Bloomberg, global asset management giant BlackRock has submitted an application to the U.S. Securities and Exchange Commission (SEC) to create a blockchain-based stock class for BlackRock's BLF Treasury Trust Fund, marking it as DLT, short for distributed ledger technology. DLT will seek to use blockchain technology to record stock ownership or simplify certain fund operations for money market funds that invest in high-quality short-term U.S. Treasuries. DLT shares can only be purchased through Bank of New York Mellon (BNY), which plans to use blockchain technology to maintain mirror records of stock ownership for its clients.