U.S. SEC filings reveal BlackRock plans to create tokenized asset fund

BlackRock’s new digital fund sets a minimum investment of $100,000 and targets Ethereum-based assets.

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BlackRock filed documents with the U.S. Securities and Exchange Commission on Thursday to launch a tokenized asset fund, but the size of the fund has not yet been announced.

In 2023, the BlackRock USD Institutional Digital Liquidity Fund was incorporated in the British Virgin Islands with the intention of operating as a collective investment fund.

According to BlackRock’s regulations, the minimum investment amount accepted from external investors is US$100,000. Although BlackRock's filing did not specify the size of the fund, the value of the applications ranged from $1 million to $100 million.

After the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs in January, discussions arose in the market about whether spot Ethereum ETFs would also be approved. BlackRock’s iShares Bitcoin Trust quickly attracted more than $1.3 billion in funding after launching in February. This series of events has made people full of expectations for the future of the cryptocurrency market, and also demonstrated people's interest and confidence in digital asset investment.

Although BlackRock provided limited details, the company registered an application for the iShares Ethereum Trust with the SEC in February. Speculation about the Institutional Digital Liquidity Fund has centered on the fact that the fund could be based on Ethereum and include stablecoin assets in its asset basket.

In an interview with CNBC in January, BlackRock CEO Larry Fink said that there is value in owning an Ethereum exchange-traded fund (ETF), which he believes is just an important step towards tokenization.

This is an evolving story and we will update as new information becomes available.

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