BlackRock Inc. signaled its growing ambition to bring digital technology to mainstream institutional finance, filing to launch a new share class of its $150 billion money market fund that is registered on a blockchain. The world’s largest asset manager submitted paperwork to the US Securities and Exchange Commission this week to create a blockchain-based share class — labeled DLT, an acronym for distributed ledger technology — for its BlackRock’s BLF Treasury Trust Fund, a cornerstone of cash management. DLT will seek to utilize blockchain technology to record share ownership or streamline certain fund operations for the money market fund, which invests in high-quality, short-term US Treasury securities. Bank of New York Mellon Corp. will manage the sale of these shares as an intermediary, for a minimum of $3 million. BNY, one of the world’s largest custodians of traditional assets, will play a role in representing the ownership of the shares through the technology, a process known as tokenization. These will simply mirror the fund ownership and will be nonbinding. Bryan Armour, director of passive strategies research at Morningstar said, “This is a step toward incorporating blockchain technology in investments, but it’s not a new strategy or a fully tokenized offering.”