Catenaa, Wednesday, April 30, 2025-BlackRock on Monday filed with the Securities and Exchange Commission to issue digital, blockchain-tracked shares of its $150 billion Treasury Trust Fund, in a move that signals growing institutional confidence in tokenized finance.
The digital shares, labeled “DLT shares,” will be available exclusively through BNY Mellon and offered only to institutional investors, according to the Form N-1A filing submitted Monday.
The minimum initial investment for the DLT shares is $3 million, though there are no minimums for subsequent contributions.
While the fund itself does not hold crypto assets or operate on blockchain rails, BNY Mellon plans to maintain a mirror record of ownership using distributed ledger technology (DLT). The system aims to improve efficiency and transparency in fund management.
The Treasury Trust Fund is part of BlackRock’s Liquidity Funds and reported $150.1 billion in assets under management as of April 29.
BlackRock CEO Larry Fink has long championed tokenization, calling it a “revolutionary” development in financial markets.
In a March letter to investors, Fink said tokenization could eliminate settlement delays, enable fractional ownership and facilitate real-time asset transfers — boosting overall market liquidity.
Still, Fink acknowledged regulatory and infrastructural hurdles, particularly around identity verification, that need to be addressed before tokenized funds gain mass adoption.
Other traditional finance leaders, including JPMorgan and Franklin Templeton, have also advanced tokenization initiatives, reflecting a broader industry shift toward blockchain integration.
The SEC decision is pending.
