BlackRock Launches A Digital Liquidity Fund To Start Asset Tokenization

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CEO Larry Fink believes that the largest asset manager in the world has made “the next step forward” toward a single ledger, fast settlement, and stopping illegal activity. The largest asset manager in the world, BlackRock, has submitted a Form D to the US Securities and Exchange Commission for the BlackRock USD Institutional Digital Liquidity Fund. Their first tokenized asset fund has now launched.

The statement states that although they established the fund in 2023, it has not yet been launched. Use Form D to apply for different types of exemptions. According to BlackRock, it is requesting an exemption from several SEC restrictions under the Investment Company Act Section 3(c). 

The British Virgin Islands Exercised Control Over The BlackRock Fund’s Creation

Securitize, a U.S. digital assets securities business, will provide the fund with a $100,000 minimum commitment and handle the token sale as well. The document specifies that the fund size is “indefinite” and lists $525,000 in sales commissions. The signatures were made on March 14. The fund will be tokenized on the Ethereum blockchain using the ERC-20 token BUIDL, which as of right now has one holder and an Etherscan estimate of $0 on-chain market value. According to that webpage, the fund had a $100 million transfer on March 4.

The spot Bitcoin BTC tickers down $66,751 exchange-traded fund offered by BlackRock was one of the first to be approved by the SEC in January.