Global asset management giant BlackRock has collaborated with Securitize, a US-based asset tokenization company, to launch the tokenized fund BUIDL (BlackRock USD Institutional Digital Liquidity) on the Ethereum blockchain. The fund has received a large number of airdrops, including meme coins and NFTs.
On the 19th, BlackRock submitted Form D to the US Securities and Exchange Commission (SEC), revealing the launch of the tokenized fund BUIDL in collaboration with Securitize. The fund is issued on the Ethereum blockchain.
According to information from the Ethereum blockchain browser Etherscan, the fund’s address received approximately 100 million USDC from Circle on March 15th, possibly as a seed investment in the fund. Subsequently, the address received various airdrops, including meme coins and NFTs.
The current holdings of the fund’s address include 500,000 USH ($13,349), 10,000 RIO ($11,800), and several meme coins such as Mog ($6,479.8), ETHEREUM ($2,927.48), SHI ($2,120), and PEPE ($1,183.48).
In addition, the address has received a large number of NFTs, including ENS domains, CryptoDickButts (0.45 ETH, $1,595.33), Zombie Baby, and Chungos (0.006 ETH, $21.27).
BUIDL is a tokenized money market fund. According to Businesswire, BUIDL aims to provide a stable value of $1 per token and pays daily accrued dividends directly to investors’ wallets on a monthly basis. The fund is fully invested in highly liquid assets, including cash, US treasuries, and repurchase agreements, allowing investors to earn income while holding tokens on the blockchain. Investors can transfer their tokens to other eligible investors at any time.
BlackRock stated that Securitize is responsible for the fund’s issuance, Securitize Markets handles the sales, and The Bank of New York Mellon is the custodian of the fund’s assets. Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks are also involved in the fund’s ecosystem.
Furthermore, BlackRock has made a “strategic investment” in Securitize, and the specific terms of the transaction were not disclosed. As part of the investment, Joseph Chalom, the Head of BlackRock’s Global Strategic Ecosystems Collaboration, has been appointed as a member of Securitize’s board of directors.