BlackRock Deepens DeFi Push With Ethena Integration, Sending ENA Up 8%

Ethena is building an on-chain financial ecosystem around its synthetic dollar USDe and governance token ENA. BlackRock's Aladdin, an investment and risk management platform used by major institutions, covers more than $20 trillion in assets. The integration links stablecoins and tokenized Treasuries with a traditional asset management system, marking an important step in DeFi's expansion into institutional markets.

On June 29, BlackRock announced it would integrate USDe into Aladdin and establish a $100 million liquidity facility for BUIDL. ENA rose about 8% within 24 hours. Janus Henderson made an undisclosed investment in ENA on June 9, while Coinbase Ventures invested on June 2 and Anchorage Digital expanded its institutional lending partnership.