BlackRock Launches Yield-Generating Tokenized Fund on Ethereum

BlackRock launches first tokenized fund, BUIDL, on Ethereum to provide yield to qualified investors
Fund issues shares as tokens to expand access, enable trading on blockchain, speed settlement
BUIDL invests in cash and short-term securities to maintain $1 token value and pay daily blockchain dividends
Ecosystem participants include crypto infrastructure providers to enable interoperability between markets
BlackRock makes strategic investment in Securitize and appoints executive to its board