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BlackRock launches tokenized digital asset fund with $100 million USDC deposit

By:
on Mar 19, 2024
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  • The fund has been started with an initial deposit of $100 million in USDC stablecoin on the Ethereum Network.
  • Wallet data from Etherscan confirms BlackRock's deposit of Circle’s USDC stablecoin.
  • BlackRock's move towards tokenization aligns with CEO Larry Fink's vision for the future of finance.

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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).

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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 partnership wth Securitize

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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

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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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