BlackRock Proposes Launching Tokenized Private Equity Fund, Allegedly Already Minted on Ethereum

BlackRock Proposes Launching Tokenized Private Equity Fund, Allegedly Already Minted on Ethereum

BlackRock Proposes Launching Tokenized Private Equity Fund, Allegedly Already Minted on Ethereum

According to The Block, asset management giant BlackRock is partnering with financial services company Securitize to launch a tokenized private equity fund, marking the company’s further foray into the digital asset space.

Last Thursday, BlackRock filed a notice of exempt securities offering (Form D) with the U.S. Securities and Exchange Commission (SEC) for the issuance of its new fund, “USD Institutional Digital Liquidity Fund.” The document indicates that the pooled investment fund requires a minimum investment of $100,000 from external investors, with an expected sales commission of $525,000. The document does not disclose intermediary fees or provide the launch date of the asset management company’s new product. Securitize Markets, a Miami-based platform with an open attitude towards digital assets, has been designated as the sales agent.

According to data from Etherscan, a token named “BlackRock USD Institutional Digital Liquidity Fund (BUIDL)” was created on the Ethereum blockchain on March 5th. The token has a maximum supply of 100 units, but currently only one holder exists.