(Bloomberg) — BlackRock Inc. is preparing to offer a fund in partnership with digital asset specialist Securitize, making it the latest Wall Street giant to try to put money into blockchain.
The world’s largest asset management company said it plans to launch the “BlackRock USD Institutional Digital Liquidity Fund Co., Ltd.” Securitize, a digital asset company specializing in tokenization, said, Archive The March 14 filing with the SEC was listed on the agency’s website Monday.
The minimum investment amount accepted from any outside investor is $100,000, the filing shows. Details about the fund are sparse in the filing, but Securitize has partnered with KKR, Hamilton Lane and others to develop tokenized funds. Cryptocurrency sleuths say they have discovered an unverified digital wallet on the Ethereum blockchain labeled BlackRock’s tokenized fund. Representatives for BlackRock and Securitize did not immediately respond to requests for comment.
Tokenization is a method of purchasing securities in the form of digital assets using blockchain. The process has been heavily promoted recently as one of the few viable use cases for blockchain. BlackRock follows other financial giants including Brevan Howard and KKR who have announced efforts to tokenize portions of their funds. Citigroup estimates that the tokenization market could expand to $5 trillion by 2030.
