BlackRock, the global investment powerhouse, has launched its first tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) on the Ethereum Network. Made accessible through Securitize Markets, LLC, this innovative fund aligns with BlackRock’s strategy to merge traditional finance with the digital asset world.
Key Highlights:
- BUIDL Fund Launch: BlackRock introduces a tokenized investment fund.
- Access: Available through Securitize Markets, LLC.
- Digital Asset Strategy: Aims to address client challenges with digital solutions.
Robert Mitchnick, Head of Digital Assets at BlackRock, stated that BUIDL is tailored to provide investors with benefits like transparent settlement and access to on-chain offerings, leveraging blockchain technology's efficiency.
Investor Benefits:
- Fixed Token Value: $1 per token with daily dividend payouts.
- Investment Focus: Cash, U.S. Treasury bills, and repurchase agreements.
- Year-Round Accessibility: Tokens can be sent anytime, offering flexible custody options.
The fund assures a fixed token value of $1, promising daily dividends directly to investors' digital wallets, and focuses on generating yield from secure assets such as cash and U.S. Treasury bills.
Ecosystem Partners:
- Custody Choices: Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks.
- Fund Administration: Managed by Black Rock Financial Management I.C., with the Bank of New York Mellon as trustee.
With BNY Mellon enabling transactions between digital and traditional markets, BUIDL represents a bridge between conventional investing and the burgeoning field of digital assets, marking a milestone for BlackRock and the investment industry at large.
