BlackRock Moves to Tokenize Part of $150B Fund with Blockchain-Backed Share Class
BlackRock is making a significant move toward blockchain integration by proposing a new digital share class—dubbed “DLT Shares”—for its $150 billion Liquidity Treasury Trust Fund.
The initiative, filed with the SEC, will see the fund offer shares that mirror ownership records on a blockchain ledger, though they won’t hold crypto assets themselves.
BNY Mellon, the fund’s exclusive distributor, will manage the blockchain-backed share records. This marks a notable step in the traditional finance sector’s cautious adoption of distributed ledger technology (DLT), laying the groundwork for future adoption of tokenized cash, digital assets, or blockchain-based settlement systems.
This development comes amid growing industry interest in real-world asset tokenization. On the same day, Libre announced it would tokenize $500 million of Telegram’s $2.4 billion in debt using the TON blockchain—another sign of how blockchain continues to bridge traditional finance and DeFi.
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The new DLT share class will carry a $3 million minimum investment for institutional buyers, with no minimum for additional purchases. While the filing is still under SEC review, it positions BlackRock at the forefront of integrating blockchain into legacy fund infrastructure.
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