BlackRock Launches $5M Minimum Tokenized Fund BUIDL on Ethereum to Bridge Traditional and Crypto Asset Markets

BlackRock launched a new $5 million minimum tokenized asset fund called BUIDL on the Ethereum blockchain
BUIDL aims to provide benefits like easier asset issuance/trading, transparent settlement, and cross-platform transfers
BlackRock is working with BNY Mellon for custody/admin and Securitize for tokenization to bridge traditional and crypto markets
The fund shows BlackRock's interest in expanding access to tokenized offerings and advancing blockchain-based capital markets
This follows speculation around BlackRock launching a spot Ethereum ETF, which the CEO previously said could be a "stepping stone" towards tokenization