#HotTrends BlackRock Unveils ‘BUIDL’ Tokenized Asset Fund on Ethereum—With $5 Million Buy-In

”We are focused on developing solutions in the digital assets space that help solve real problems for our clients,” the firm said.

After leaving financial and crypto market watchers reading tea leaves to divine its next big move, investment titan BlackRock spilled the tea late Wednesday on its tokenized asset fund. Dubbed ‘BUIDL,’ it will be built on the Ethereum network and is the company's first tokenized fund issued on a public blockchain.

The BlackRock USD Institutional Digital Liquidity Fund was first registered in the British Virgin Islands last year.

“BUIDL will offer investors important benefits by enabling the issuance and trading of ownership on a blockchain, expanding investor access to on-chain offerings, providing instantaneous and transparent settlement, and allowing for transfers across platforms,” BlackRock said in its announcement.