According to Bloomberg, BlackRock, the world’s largest asset manager, has launched its first tokenized asset fund by submitting a Form D to the US Securities and Exchange Commission (SEC) for the BlackRock USD Institutional Digital Liquidity Fund.
The fund, which was founded in 2023 and is controlled by the British Virgin Islands, has requested exclusions from the SEC under Section 3(c) of the Investment Company Act.
Securitize is offering the fund for a $100,000 minimum investment, which will be tokenized on the Ethereum blockchain with the ERC-20 token BUIDL. The signed form dated March 14 states that the fund’s size is “indefinite” due to the $525,000 in sales commissions.
With his optimistic view of Bitcoin and tokenization, BlackRock CEO Larry Fink believes that tokenizing financial assets would increase security and transparency in the future. The fund’s $100 million transfer on March 4th reflects the interest of its early investors.
Securitize, an SEC-registered stock transfer agent, has partnered with SBI Digital Markets to acquire Onramp Invest and tokenize assets worth $40 billion for KKR and Mancipi.
BlackRock’s move to tokenize its asset fund reflects a growing trend of digital asset usage, as well as a deliberate embrace of blockchain technology for greater financial market security and transparency.
