BlackRock USD Institutional Digital Liquidity FundBUIDL
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) is a tokenized fund share issued by Securitize through BlackRock USD Institutional Digital Liquidity Fund Ltd. and managed by BlackRock Financial Management, Inc. Each token is a direct claim on the issuer. The fund invests in U.S. government debt and charges a 0.2% annual management fee. Its assets sit with Bank of New York Mellon, which also administers the fund, with Securitize Transfer Agent, LLC as transfer agent and PricewaterhouseCoopers LLP as auditor. Qualified purchasers can subscribe and redeem in USD, with a USD 5,000,000 minimum and monthly subscription settlement after completing KYC, and holders have a right to redeem at net asset value with same- or next-business-day settlement. BlackRock USD Institutional Digital Liquidity Fund Ltd. is incorporated in the British Virgin Islands, is offered under an SEC Regulation D exemption, is registered under the U.S. Investment Company Act of 1940, is regulated under the British Virgin Islands securities regime, and is supervised by the BVI Financial Services Commission. BUIDL has been issued on public blockchains since March 2024 and is native to 9 networks, including Ethereum, Arbitrum One, Avalanche, OP Mainnet, Polygon, and Aptos.