BlackRock Launches Tokenized Digital Asset Fund With $100 Million USDC Deposit
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Investment management giant BlackRock (BLK) has launched a tokenized asset fund, as revealed in a filing with the U.S. Securities and Exchange Commission (SEC).
The fund has been kickstarted with an initial deposit of $100 million in USDC stablecoin on the Ethereum Network, marking BlackRock’s foray into the world of tokenized investment vehicles.
BlackRock holds exactly 2 (two) assets on the Ethereum Blockchain
— Viro ꙰ (@virotechnics) March 19, 2024
1. USDC
2. Mog Coin (Mog) pic.twitter.com/OTdgE2UfMR
BlackRock partnership wth Securitize
The BlackRock USD Institutional Digital Liquidity Fund, incorporated in the British Virgin Islands, is set to be launched in collaboration with Securitize, a leading tokenization firm.
Wallet data from Etherscan confirms BlackRock’s deposit of Circle’s USDC stablecoin into a wallet on the Ethereum Network, signaling the fund’s activation.
BlackRock driving towards tokenization
BlackRock’s move towards tokenization aligns with CEO Larry Fink’s vision for the future of finance.
In a January interview with CNBC, Fink emphasized the importance of tokenization, stating that BTC and ETH ETFs are just the beginning. Now, with the launch of the digital asset fund, BlackRock is taking a definitive step towards embracing tokenization in asset management.
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