The BlackRock USD Institutional Digital Liquidity Fund has the token ticker BUIDL<\/p>\n
BlackRock, the world’s largest asset manager, tokenized a recently-launched fund on the Ethereum blockchain. <\/p>\n
The BlackRock USD Institutional Digital Liquidity Fund, which has the token ticker BUIDL, was launched 15 days ago on Ethereum, according to Etherscan<\/a> data, but was incorporated last year, a filing<\/a> to the U.S. Securities and Exchange Commission shows. <\/p>\n Securitize<\/a> Markets, a company specializing in tokenized securities, is likely the broker of the fund.<\/p>\n Requests for comment from BlackRock and Securitize were not answered by publication time.<\/p>\n <\/p>\n The offering is open-ended, meaning that there is no maximum limit on the amount of funds that can be invested, and has a minimum investment threshold of $100,000. <\/p>\n The fund was issued with exemptions under Rule 506(c) and Section 3(c) of the Investment Company Act. Rule 506(c) allows BlackRock to advertise the securities offering to a wider audience, as long as all purchasers are verified accredited investors.<\/p>\n Sales commissions of approximately $525,000 are mentioned in the filing, with Securitize Markets listed as the recipient. This implies that Securitize Markets may play a role as a broker or placement agent.<\/p>\n Securitize lists products including private equity funds by Hamilton Lane and KKR, a U.S. Treasuries fund by Arca, and a venture capital fund by Blockchain Capital, but hasn’t listed BlackRock’s BUIDL fund on the “invest” section of its website.<\/p>\n BlackRock’s iShares Bitcoin Trust is the largest spot Bitcoin ETF after Grayscale’s GBTC, with over $6 billion in assets under management. <\/p>\n <\/p>\nFor Accredited Investors<\/h2>\n
BlackRock’s Crypto Play<\/h2>\n
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