BlackRock plans to launch tokenized fund BUIDL! RWA track tokens ONDO and CFG surge

After the asset management giant BlackRock successfully launched the Bitcoin spot ETF-IBIT, the current value of the fund’s Bitcoin holdings has exceeded US$15 billion, second only to GBTC. BlackRock also applied for an Ethereum spot ETF in November last year, but has already encountered two delays. The 120bTC.com site reported that this move marks further development of the Bitcoin and cryptocurrency markets, attracting the participation of more traditional financial institutions. As digital assets continue to gain recognition around the world, more institutional investors are beginning to explore the potential of cryptoassets as an investment vehicle. While the delay of an Ethereum spot ETF may be disappointing, it also highlights that BlackRock partners with Securitize to launch tokenized fund

Recently, BlackRock filed a complaint with the U.S. Securities and Exchange Commission (SEC) filed a Form D document with plans to launch the BlackRock USD Institutional Digital Liquidity (BlackRock USD Institutional Digital Liquidity) fund in partnership with U.S. asset tokenization company Securitize. The move marks BlackRock’s upcoming launch of its first asset tokenization fund, which will be a major step forward for the company in the real world assets (RWA) space.

Asset managers file Form D with the SEC pursuant to an exemption under the Securities Act. This exemption allows companies to offer and sell securities to "accredited investors" or a "limited number of non-accredited investors" without registering with the SEC.

According to documents, BlackRock registered the fund in the British Virgin Islands in 2023 and set a minimum investment threshold of $100,000. The fund is issued and sold by Securitize, with sales commissions of up to $525,000. However, no information about the fund’s size and assets held has been made public.

According to Etherscan data, the fund’s token name on the Ethereum network is BUIDL. Currently, this token has only one holder and has zero on-chain value. According to reports from CoinDesk, $100 million worth of USDC was transferred to addresses associated with Securitize deployers, which may be a seed investment in the fund.

CEO: Asset tokenization is the next step for BlackRock

In fact, the day after the Bitcoin spot ETF was listed (1/12), BlackRock CEO Larry Fink said in an exclusive interview with Bloomberg that asset tokenization will be the next step for BlackRock: We believe that the next step will be the tokenization of financial assets, which means that every stock and bond will... Record it in a general ledger.

In Larry Fink’s view, through tokenization, it will be possible to get rid of all the current problems surrounding bonds, stocks and digital illegal activities. Most importantly, it will be possible to achieve instant settlement through tokenization, as well as customization. An investment strategy that works for everyone: If you have tokenized securities, and you have a tokenized identity, when you buy or sell an instrument, it’s recorded on a jointly established ledger, think about issues like money laundering , through a tokenized system, all corruption will be eliminated.

Larry Fink also emphasized in an interview with CNBC on the 12th: "BTC and ETH spot ETFs are just a stepping stone to tokenization, and I do believe that this is the direction we are going to go."

RWA Track Agreement surges

Affected by this, RWA Track Agreement bucked the trend and rose. Ondo Finance ($ONDO) and Centrifuge ($CFG) each rose 41.1 in the past 24 hours. % and 10.7%.

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