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BlackRock to offer a $100K minimum tokenized fund

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BlackRock to offer a $100K minimum tokenized fund

BlackRock, the world’s top asset manager, has announced plans to launch a tokenized investment fund in collaboration with Securitize, a financial services firm.

The USD Institutional Digital Liquidity Fund, which requires a minimum investment of $100,000 from external investors, has been submitted to the US Securities and Exchange Commission (SEC).

Additionally, the fund will be managed by Securitize Markets, a Miami-based platform for digital assets. Besides, a token representing the fund, named BUIDL, was launched on the Ethereum blockchain on March 5.

Furthermore, the fund is limited to 100 tokens, with only one holder recorded so far. BlackRock’s Bitcoin venture, the iShares Bitcoin ETF (IBIT), has already amassed $15.5 billion in assets, making it the second-largest of its kind.

Recently, BlackRock’s iShares Bitcoin Trust (IBIT) has seen a significant increase in its holdings, surpassing MicroStrategy’s Bitcoin (BTC) holdings by nearly 40 days.

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James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.