The largest asset management company BlackRock has filed an application to launch the USD Institutional Digital Liquidity Fund. This will be the company's first fund with tokenized assets.

According to the filing, BlackRock created the fund under the jurisdiction of the British Virgin Islands in 2023, but has not yet made a public launch. The company has filed Form D, which will exempt the fund from certain SEC regulations.

The documents state that an investment of at least $100,000 is required to participate in the fund. The USD Institutional Digital Liquidity Fund will be presented on the American platform Securitize, which works with digital assets and conducts token sales. The volume of the fund is not limited.

As part of the USD Institutional Digital Liquidity Fund, assets will be placed on the Ethereum network in the form of ERC-20 tokens called BUIDL. Currently, these tokens have only one owner, and their market capitalization is $0.

“The next step for us should be the tokenization of financial assets, which means that every stock and bond will be on the same digital ledger, the blockchain. Each investor, you and I, will have a number and identifying information. This way we could get rid of all the problems with illegal activities related to securities,” says BlackRock CEO Larry Fink.

It was previously reported that BlackRock has become one of the largest holders of Bitcoin – we are talking about the iShares Bitcoin Trust (IBIT) spot fund, where over 200,000 BTC have accumulated.