BlackRock files for new tokenized fund structure with Securitize infrastructure

BlackRock just filed paperwork with the SEC for a new tokenized fund structure, using Securitize’s blockchain infrastructure to handle on-chain ownership records. The filing, submitted on May 12, represents the latest move by the $10 trillion-plus asset manager to weave blockchain rails into its traditional finance machinery.

What the filing actually does

The new fund structure relies on Securitize Transfer Agent, LLC to maintain blockchain-based ownership records. Instead of tracking who owns what through legacy systems, ownership gets recorded on-chain. The transfer agent role is critical here, because it’s the regulated entity responsible for making sure the right people own the right shares and that everyone meets investor eligibility requirements.

Securitize isn’t some random crypto startup. The two firms have a deep relationship. BlackRock led a $47 million funding round for Securitize, effectively making it the asset manager’s preferred blockchain infrastructure partner for tokenization efforts.

That relationship already produced 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 finance heavyweight.

The bigger picture: tokenized assets hit $30 billion

BlackRock’s latest move arrives at a moment when the tokenized real-world asset market has surpassed $30 billion. That number includes tokenized treasuries, private credit, real estate, and other traditional assets that have been brought on-chain.

Tokenization can compress settlement times from days to near-instant. It can make fractional ownership trivially easy. It can automate compliance through smart contracts rather than 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’re actively building on it. Projects focused on real-world asset tokenization, compliant infrastructure, and institutional-grade blockchain tools stand to benefit from the demand that firms 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 law, custody requirements, and investor protection rules is being written in real time.

One metric to track: whether the new fund structure expands beyond US treasuries and money market instruments into higher-yielding or less liquid asset classes. BUIDL proved the model works at $2.3 billion in assets under management. The new filing could prove it scales.