BlackRock Files to Tokenize Its $150B Money Fund

- BlackRock, the world’s largest asset manager, filed with the SEC to introduce a blockchain-powered share class, dubbed "DLT Shares," for its $150 billion Treasury Trust Fund.

Key Details:

- The DLT Shares will be exclusively distributed through BNY Mellon, leveraging blockchain to track ownership of the fund’s shares.

- This new offering targets institutional investors, with a minimum investment set at $3 million.

- The Treasury Trust Fund aims to maintain liquidity by investing in cash and short-term government securities, ensuring a stable $1 per share value for investors.

- By utilizing blockchain, BlackRock seeks to streamline transactions, potentially speeding up asset transfers and enhancing liquidity.

- CEO Larry Fink has previously emphasized how tokenization could speed up processes, remove delays, and allow funds to reinvest more efficiently.

BUIDL on Ethereum:

- The filing follows BlackRock's earlier launch of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) on Ethereum, which tokenizes US Treasury securities.

- While Ethereum has faced price struggles recently, the blockchain’s dominance in tokenizing real-world assets—holding 56% market share—positions it as the industry standard for asset tokenization.

- BlackRock’s DLT Shares could pave the way for even greater institutional adoption of Ethereum and blockchain in traditional finance.

Images: BlackRock X platform and Fortune