BlackRock just filed paperwork with the SEC for a new tokenized fund structure, using Securitize’s blockchain infrastructure to handle on-chain ownership data. The filing, filed on May 12, represents the latest move by the $10 trillion-plus asset manager to weave blockchain rails into its traditional financial machinery.
What the submission actually does
The new fund structure relies on Securitize Transfer Agent, LLC to maintain blockchain-based ownership records. Instead of keeping track of who owns what through older systems, ownership is recorded in the chain. The role of the transfer agent is crucial here, as it is the regulated entity that must ensure that the right people own the right shares and that everyone meets the investor eligibility requirements.
Securitize is not just any random crypto startup. The two companies have a deep relationship. BlackRock led a $47 million funding round for Securitize, effectively making it the asset manager’s blockchain infrastructure partner of choice for tokenization efforts.
That relationship has already spawned the BUIDL fund, which launched in March 2024 and has since grown to $2.3 billion in assets under management. BUIDL, short for BlackRock USD Institutional Digital Liquidity Fund, was one of the first major tokenized money market products from a traditional financial heavyweight.
The bigger picture: tokenized assets reached $30 billion
BlackRock’s latest move comes at a time when the tokenized real-world asset market has surpassed $30 billion. That number includes tokenized treasuries, private credit, real estate and other traditional assets brought on-chain.
Tokenization can compress settlement times from days to almost instantaneous. It can make fractional ownership trivially simple. It can automate compliance through smart contracts instead of manual checks. And it can create 24/7 markets for assets that currently trade only during business hours in specific time zones.
What this means for investors
For crypto-native investors, the signal is clear. The biggest players in traditional finance are not just tolerating blockchain technology, they are actively building on it. Projects focused on real-world asset tokenization, compliant infrastructure, and institutional-grade blockchain tools can benefit from the demand that companies like BlackRock are creating.
Regulatory clarity around tokenized securities is still evolving. The SEC’s willingness to accept these filings is encouraging, but the framework for how tokenized funds interact with existing securities laws, custody requirements, and investor protection rules is being written in real time.
One metric to watch: whether the new fund structure expands beyond U.S. Treasuries and money market instruments into higher-yielding or less liquid asset classes. BUIDL proved that the model works with $2.3 billion in assets under management. The new application could prove that it is scalable.