BlackRock Teams Up with Securitize to Launch New Digital Investment Fund
BlackRock to offer a $100K minimum tokenized fund, entering deeper into digital assets
BlackRock, the world's top asset manager, has informed regulators about its plan to launch a tokenized investment fund, stepping further into the digital assets field. This move is in collaboration with Securitize, a firm specializing in financial services, highlighting BlackRock's continued interest in digital assets.
The company submitted a Form D to the Securities and Exchange Commission last Thursday, detailing the USD Institutional Digital Liquidity Fund.
This fund sets a high bar for entry, with a minimum investment of $100,000 required from external investors.
The filing also reveals sales commissions of $525,000 for the fund, but no finder's fees. While a specific start date for the fund wasn't provided, it's clear that Securitize Markets, a Miami-based platform for digital assets, will handle the sale.
A token representing this fund, named BUIDL, was launched on the Ethereum blockchain on March 5, per Etherscan. Currently, it's limited to 100 tokens, with only one holder recorded so far.
Following regulatory approval in January, BlackRock's venture into Bitcoin through the iShares Bitcoin ETF (IBIT) has already amassed $15.5 billion in assets, making it the second-largest of its kind. Overall, BlackRock oversees more than $9 trillion in assets, reinforcing its industry dominance.
