In a significant move signaling its deepening involvement in digital assets, BlackRock, the world’s largest asset manager, has announced the launch of a tokenized private equity fund in collaboration with financial services firm Securitize.
The announcement comes after BlackRock filed a Form D with the Securities and Exchange Commission last Thursday, outlining details of its USD Institutional Digital Liquidity Fund. This pooled investment fund will require outside investors to commit a minimum of $100,000, as disclosed in the filing.
Notably, the filing also indicates that the fund’s estimated sales commissions are set at $525,000, with no finder’s fees reported. However, a specific launch date for the offering has not been provided in the notice. Securitize Markets, a regulatory-friendly platform for digital assets headquartered in Miami, has been listed as the entity conducting the sale.
Adding to the innovation, a token named BlackRock USD Institutional Digital Liquidity Fund (BUIDL) was minted on March 5 on the Ethereum blockchain, according to data from Etherscan. While the token has a maximum quantity of 100 tokens, it currently boasts only one holder.
This move comes on the heels of BlackRock’s recent success in the digital asset space. Since receiving regulatory approval in January, BlackRock’s iShares Bitcoin ETF (IBIT) has seen a remarkable surge, accumulating $15.5 billion in assets under management. This achievement positions IBIT as the second-largest spot bitcoin ETF, based on data compiled by The Block. Notably, BlackRock manages over $9 trillion in assets globally.
With this latest venture, BlackRock demonstrates its commitment to embracing the potential of blockchain technology and digital assets, paving the way for further innovation and growth in the financial industry.
