BlackRock Files Documents for Tokenized Asset Fund

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BlackRock to Launch Tokenized Asset Fund

BlackRock, a leading investment giant, has filed documents with the U.S. Securities and Exchange Commission to introduce a tokenized asset fund. The fund, known as the BlackRock USD Institutional Digital Liquidity Fund, was registered in the British Virgin Islands in 2023. Acting as a pooled investment fund, the minimum investment accepted from external investors is set at $100,000.

While the total size of the fund has not been disclosed, BlackRock’s filing indicated that application values could range from $1 to $100 million. This move by BlackRock aligns with the recent surge of interest in digital assets and blockchain technology.

Ethereum ETF Hopes Amid Bitcoin Success

The announcement of the Institutional Digital Liquidity Fund comes amidst growing anticipation for the approval of a spot Ethereum ETF, following the U.S. Securities and Exchange Commission’s green light for 11 spot Bitcoin ETFs in January. BlackRock made headlines in February when its iShares Bitcoin Trust exceeded $1.3 billion in shares shortly after its launch.

Although BlackRock has been tight-lipped about specific details regarding the Institutional Digital Liquidity Fund, speculations have emerged suggesting that the fund may be Ethereum-based. Some believe that the fund could include stablecoin assets within its portfolio.

BlackRock’s CEO, Larry Fink, expressed his support for an Ethereum ETF in a January interview with CNBC. Fink emphasized the significance of these developments as crucial steps towards the wider adaptation and utilization of tokenization in the financial industry.

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