BlackRock pushes deeper into DeFi with Ethena integration, sending ENA up 8%

Finance BlackRock pushes deeper into DeFi with Ethena integration, sending ENA up 8% The deal gives institutional clients of BlackRock's Aladdin access to Ethena's yield-generating token and liquidity facility for BlackRock's tokenized products. By Krisztian Sandor | Edited by Cheyenne Ligon Jun 29, 2026, 2:02 p.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on BlackRock logo on a building (Anthony Quintano/CC by 2.0) Summary Show BlackRock, the world's largest asset manager, will integrate crypto protocol Ethena's yield-generating token USDe into its investment management platform Aladdin. ENA was up 8% over the past 24 hours following the announcement. The deal follows Ethena's recent partnerships with Coinbase, Janus Henderson and Securitize. Ethena said its yield-generating "synthetic dollar" token will be integrated into BlackRock's (BLK) Aladdin investment management platform as the crypto protocol is deepening its relationship with traditional finance firms. The Monday announcement sent Ethena's governance token ENA (ENA) up about 8% on the day as investors welcomed another high-profile institutional partnership. Aladdin is BlackRock's portfolio construction, trading and risk management platform used by banks, insurers, pension funds and asset managers overseeing more than $20 trillion in combined assets. The integration will give institutions using Aladdin access to USDe, Ethena's yield token designed for onchain savings and settlement. Ethena also said BlackRock's tokenized money market fund, BUIDL, will serve as the primary reserve asset for a forthcoming white-label product. The companies also plan to establish a liquidity facility for BlackRock's tokenized products. The announcement is the latest in a series of partnerships between global asset managers and decentralized finance protocols. Earlier this year, BlackRock expanded its tokenized money market fund through a partnership with Uniswap and also invested an undisclosed amount in the decentralized exchange's UNI token. Private markets giant Apollo Global Management (APO) struck a deal with lending protocol Morpho to bring tokenized private credit assets onchain. Ethena has been increasingly focused on expanding to institutions as well. Asset manager Janus Henderson, which oversees roughly $480 billion, recently made a strategic investment in ENA and planned to use USDe for treasury management while exploring ways to distribute the token through exchange-traded products. Ethena also announced plans to allocate $250 million to Securitize's tokenized AAA-rated collateralized loan obligation fund, deepening its exposure to tokenized credit markets. Earlier this month, Coinbase Ventures disclosed its first investment in Ethena and unveiled plans to bring Ethena products to Coinbase's user base. Ethena also expanded its relationship with Anchorage Digital to support institutional lending through Anchorage's collateral management platform. Latest Crypto News 1 Kalshi and Polymarket could become M&A targets as prediction markets consolidate: Bernstein 1 hour ago 2 Tom Lee blames crypto weakness on quarter-end 'window dressing' as Bitmine adds another $43 million of ETH 1 hour ago 3 JPMorgan sees limited institutional demand for perpetual futures 1 hour ago 4 Saylor's Strategy initiates buybacks and bitcoin monetization program, lifts STRC dividend 1 hour ago 5 Tether's USDT jumps to 8.5% premium in India after crypto payment crackdown 2 hours ago 6 Vitalik Buterin says crypto’s most powerful idea isn't nearly ready for use 2 hours ago 7 Dollar, U.S. Treasury yield market positions may carry glimmer of hope for bitcoin 2 hours ago 8 FundBank becomes IRACE Digital in bid to bridge traditional finance and crypto 2 hours ago 9 Bitcoin hovers below $60,000 as crypto braces for a pivotal week 2 hours ago 10 Europe’s unlicensed crypto firms face ‘wipeout’ as MiCA deadline hits 4 hours ago Latest Research The Evolution of the Crypto CEX Landscape: A Case Study on Binance The Evolution of the Crypto CEX Landscape: A Case Study on Binance Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services. By CoinDesk Research 3 hours ago Commissioned by Binance Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services. Why it matters : Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services. View Full Report More From Finance Kalshi and Polymarket could become M&A targets as prediction markets consolidate: Bernstein Tom Lee blames crypto weakness on quarter-end 'window dressing' as Bitmine adds another $43 million of ETH JPMorgan sees limited institutional demand for perpetual futures