The BlackRock USD Institutional Digital Liquidity Fund invests in cash, US Treasury bills and repurchase agreements. Holders of the fund receive a cryptocurrency called BUIDL that is valued at $1 per token. Digital wallets approved by <-bsp-bb-link state="{"bbHref":"bbg://securities/1679321D%20US%20Equity","_id":"0000018e-819b-dd73-a18e-c79ff97d0003","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Securitize-bsp-bb-link>, BlackRock’s partner for the investment vehicle, can transfer the tokens to other validated addresses.
BlackRock has been among the biggest advocates of crypto among mainstream financial firms, with Chairman and CEO
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