Tokenization has been a Wall Street buzzword, only now it's becoming real. Beginning this summer, the Depository Trust & Clearing Corporation — a little-known utility at the center of the US financial system — will begin creating blockchain-based "digital twins" of stocks, bonds and ETFs. The goal isn't to replace traditional investments, but to make them more portable, programmable and useful in ways that haven't been possible before. On this episode of Trillions, Eric Balchunas and Joel Weber are joined by DTCC's global head of digital assets, Nadine Chakar, along with Bloomberg News reporter Isabelle Lee, to unpack what tokenization actually means. They explore how ETFs could evolve in a tokenized world, why investors might eventually want a digital wallet alongside a brokerage account, and whether blockchain technology represents the biggest challenge — or the biggest opportunity — the ETF industry has faced since its inception. See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information. Money goes where it's treated best. That simple truth is a big reason why more and more money—trillions, in fact—flows into a powerful, low-cost tool that's quietly transformed investing in recent years. Exchange-traded funds, or ETFs, let you invest in everything from the stock market to gold like never before. This biweekly podcast will demystify them—and delight you in the process. Listen to more Trillions: https://youtube.com/playlist?list=PLe4PRejZgr0Nr7WGG0u_2iL3-9-uYwad_ Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts #Bloomberg #Podcast #Investing Visit us: https://www.bloomberg.com/podcasts Follow Bloomberg Podcasts on Twitter: https://twitter.com/podcasts Visit our other YouTube channels: Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake For coverage on news, markets and more: http://www.bloomberg.com/video