BlackRock is in discussions with the U.S. Securities and Exchange Commission (SEC) to tokenize its iShares ETF products, according to Matt Hougan, Chief Investment Officer at Bitwise. The move aims to leverage blockchain technology to enhance the efficiency and accessibility of these financial products. BlackRock's Chief Financial Officer, Martin Small, indicated uncertainty regarding the timeline for completion, stating it could take anywhere from 90 days to 12 months. Hougan suggested that this initiative could play a significant role in revitalizing the market, particularly benefiting Layer 1 blockchains and decentralized finance.