BlackRock, a global investment management firm and the world’s largest asset manager, has filed plans to launch blockchain-based shares of its $150 billion Treasury Trust Fund.
The company submitted a Form N-1A to the U.S. Securities and Exchange Commission (SEC) on April 28, 2025, outlining its purpose to issue DLT shares that use distributed ledger technology (DLT) to track ownership.
Although the fund won’t use blockchain technology or hold cryptocurrency assets just yet, BNY Mellon, the exclusive distributor of the new DLT shares, will leverage blockchain technology to give its institutional clients a mirrored record of share ownership. As per the filing, institutions will need to make an initial investment of at least $3 million to access these shares, though there’s no minimum for follow-up contributions.
As of April 29, 2025, BlackRock’s Treasury Trust Fund, part of its BlackRock Liquidity Funds platform, reported total assets of approximately $150.1 billion, as listed on the company’s website.
However, the DLT share offering is still under SEC review and might change; it aligns closely with BlackRock CEO Larry Fink’s broader vision for the role of blockchain in modern finance.
Fink described tokenization as a force that could revolutionize investing in his annual chairman’s letter to shareholders in recent times. He also said, Every stock, every bond, every fund, every asset, can be tokenized.Â
Instead of speculating on cryptocurrencies, BlackRock is investigating distributed ledger technology to improve financial infrastructure. In institutional investment, digital share classes may enhance security, settlement speed, and transparency.
This move by BlackRock shows its growing commitment to blockchain-powered finance. If this application gets approval by the SEC, it can become a turning point in how institutional investors interact with traditional finance. Since BlackRock is one of the world’s giant financial companies, it can set an example as well by taking such a move.
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