On April 29, BlackRock filed to list digital ledger technology (DLT) shares to track its $150 million BLF Treasury Trust Fund (TTTXX). The filing with the SEC indicates the shares will use blockchain to maintain a mirror record of share ownership.
The DLT shares will be purchased and held through BNY, which intends to use blockchain technology for customer ownership records. Unlike BlackRock's BUIDL, these shares won't be tokenized but will serve as a transparency tool.
A minimum initial investment of $3 million is required for institutions seeking to purchase the digital shares. This move follows Fidelity's March 21 filing for an Ethereum-based OnChain share class to track its $80 million Fidelity Treasury Digital Fund (FYHXX).