U.S. SEC filings reveal BlackRock plans to create tokenized asset fund

BlackRock’s new digital fund sets a minimum investment of $100,000 and targets Ethereum-based assets.

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Investment giant BlackRock filed documents with the U.S. Securities and Exchange Commission on Thursday to launch a tokenized asset fund. The total size of the fund was not disclosed.

The fund, registered in the British Virgin Islands in 2023, is called the BlackRock USD Institutional Digital Liquidity Fund and will operate as a collective investment fund.

According to BlackRock, the minimum investment amount accepted from outside investors is $100,000. In its filing, BlackRock did not specify the size of the fund, but application values ranged from $1 million to $100 million.

News of the fund comes amid hopes that a spot Ethereum ETF may be approved, following the U.S. Securities and Exchange Commission’s approval of 11 spot Bitcoin ETFs in January. In February, BlackRock’s iShares Bitcoin Trust surpassed $1.3 billion in stakes following its launch.

Although BlackRock has been less forthcoming on details, the company registered an application for an iShares Ethereum Trust with the SEC in February. Speculation surrounding the Institutional Digital Liquidity Fund has centered on the fact that the fund may be Ethereum-based, with stablecoin assets included in its asset basket.

BlackRock CEO Larry Fink said in an interview with CNBC in January that “there is value in creating and owning an Ethereum exchange-traded fund (ETF), and as I said, these are just a step towards tokenization. .”

This is a developing story and will be updated as more information becomes available.

This is an evolving story and we will update as new information becomes available.