BX

THE BLOCK: Real estate tokenization startup Index Industries has emerged from stealth with a $50 million seed round led by Lightspeed, with participation from Polychain, Galaxy Ventures, Wintermute Ventures, and others. Founded by former Polychain President Josh Rosenthal and former Blackstone principal Brian Hardecker, the startup is developing the technology behind USHP, a tokenized product that tracks U.S. home prices. USHP has received up to $100 million in pre-launch institutional commitments and is expected to launch on Ethereum this quarter for eligible institutional and non-U.S. investors.