BlackRock just partnered with Ondo Finance to bring three of its investment strategies fully on-chain — though for now it's limited to eligible investors outside the U.S. Meanwhile the Fed proposed new stablecoin rules under the GENIUS Act covering reserve and custody requirements for issuers. Traditional finance keeps building on-chain rails even as regulation is still catching up. Watching for U.S. access to open up, or is this a "wait and see" story? $BTC #BlackRocks