BlackRock begins asset tokenization with launch of digital liquidity fund

The world’s largest asset manager has taken “the next step forward” toward a single ledger, instantaneous settlement and ending illicit activities, in the view of CEO Larry Fink.

BlackRock, the world’s largest asset manager, has filed United States Securities and Exchange Commission Form D for the BlackRock USD Institutional Digital Liquidity Fund. This marks the launch of BlackRock’s first tokenized asset fund. According to the filing, BlackRock created the fund in 2023, but has yet to launch it. Form D is used to obtain various exemptions. BlackRock indicated that it is seeking an exemption under the Investment Company Act Section 3, which exempts it from certain SEC regulations. The fund was created under the jurisdiction of the British Virgin Islands.

The fund will have a $100,000 minimum investment and be offered by Securitize, a U.S. digital assets securities firm, which will also conduct the sale of the tokens. The form shows $525,000 in sales commissions, and indicates the size of the fund as “indefinite.” The form was signed on March 14.

“Every investor, you and I, will have our own number, our own identification. We could rid ourselves of all issues around illicit activities about bonds and stocks and digital by having a tokenization,” Fink added. He went on to praise customization strategies through tokenization and instantaneous settlement.Securitize is registered as a stock transfer agent and alternative trading system with the SEC.

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