The world’s largest asset manager BlackRock has filed with the U.S. Securities and Exchange Commission (SEC) to launch a tokenized asset fund.
The world’s largest asset manager BlackRock has filed with the U.S. Securities and Exchange Commission (SEC) to launch a tokenized asset fund. The move comes amid speculation that the SEC may soon approve a spot Ethereum exchange-traded fund (ETF).
The news of the fund comes after the SEC approved 11 spot Bitcoin ETFs in January. BlackRock's iShares Bitcoin Trust topped $1.3 billion in shares after its launch in February.
The BlackRock USD Institutional Digital Liquidity Fund will be registered in the British Virgin Islands. The fund will be pooled investment, and investors seeking to participate will have to put in a minimum sum of $100,000. BlackRock did not disclose the total size of the fund in its filing, but according to the filing, the value ranges from $1 to $100 million.
BlackRock has also registered an application with the SEC for an iShares Ethereum Trust. This has led to speculation that the Institutional Digital Liquidity Fund may be Ethereum-based, with stablecoin assets in the basket.
BlackRock CEO Larry Fink has previously expressed support for Ethereum ETFs. "I see value in having an Ethereum ETF," Fink told CNBC in January. "As I said, these are just stepping stones towards tokenization."
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