Crypto News – BlackRock surprised everyone with an announcement late Wednesday about its tokenized asset fund.
BlackRock BUIDL: Company Announces Tokenized Asset Fund
Called ‘BUIDL,’ it is the first tokenized fund launched on a public blockchain by the corporation and will be constructed on the Ethereum network. Last year, the British Virgin Islands served as the initial registration location for the BlackRock USD Institutional Digital Liquidity Fund.
BUIDL will offer investors important benefits by enabling the issuance and trading of ownership on a blockchain, expanding investor access to on-chain offerings, providing instantaneous and transparent settlement, and allowing for transfers across platforms,
BlackRock
BlackRock reported that the minimum initial investment in the fund is $5 million. Its SEC filing, which was made public yesterday, set a much lower bar than that. A minimum investment of $100,000 would be accepted from any outside investor, according to the Notice of Exempt Offering of Securities, which did not define the size of the fund.
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