This venture is made in partnership with Securitize, a financial services firm known for its focus on digital securities.
This move from BlackRock marks a deep venture into digital assets, signaling a major milestone in institutional cryptocurrency investment.
BlackRock Deepens Footprint in Digital Asset Space
The announcement came following BlackRock’s submission of a Form D to the SEC last Thursday. Form D is a notice required for companies offering securities that are exempt from full SEC registration. The document outlines the USD Institutional Digital Liquidity Fund, requiring a minimum $100,000 investment from external investors.
BlackRock to launch tokenized investment fund with Securitize https://t.co/bUVgprOl4b
— The Block (@TheBlock__) March 19, 2024
The filing revealed that the fund’s sales commissions are estimated at $525,000, and interestingly, no finder’s fees were reported. Although lacking a launch date, the notice shows BlackRock’s aim to innovate in digital asset management with blockchain-based products.
Securitize Markets, known for digital asset compliance, will conduct the sale. This partnership emphasizes the crucial role of regulatory compliance for institutional involvement in the dynamic digital asset space.
More About Blackrock
According to Etherscan, BlackRock USD Institutional Digital Liquidity Fund (BUIDL) was created on the Ethereum blockchain on March 5th. The token has a maximum supply of 100 tokens, highlighting its exclusive nature, yet, as of now, it has only one holder. This indicates the fund’s initial phase and cautious rollout strategy.
BlackRock has filed a 🇺🇸 SEC Form D for the BlackRock USD Institutional Digital Liquidity Fund. This marks the launch of BlackRock’s first tokenized asset fund.
CEO Larry Fink: ‘…the next step is the tokenisation of financial assets, and that means every stock, every bond…’ pic.twitter.com/n63bQCnffs
— Lior (@liorsela) March 20, 2024
Finally, BlackRock’s venture with Securitize into tokenized funds marks a major step in merging traditional finance with digital assets. BlackRock uses blockchain to expand its offerings and pioneer large asset managers’ engagement with the digital economy.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
