The World's Largest Asset Manager BlackRock Has Submitted a New Application of 150 Billion Dollars to the SEC! Here Are the Details

The world's largest asset manager BlackRock is taking a significant step towards integrating blockchain into traditional finance with a new SEC application to offer a tokenized share class of a $150 billion Treasury Trust Fund in partnership with BNY Mellon.

BlackRock Files to Launch $150 Billion Tokenized Treasury Trust Using Blockchain Technology

This move indicates one of the most significant strides made by a major financial institution into blockchain-supported infrastructure. The proposed "DLT Shares" will not include cryptocurrencies.

Instead, the fund's distributor BNY Mellon will use blockchain to reflect ownership records and provide a modernized alternative to the outdated settlement and record-keeping systems.

The digital share class will be part of one of the company's largest money market offerings, the BlackRock Liquidity Treasury Trust Fund. According to the preliminary application, institutional investors will be able to access DLT Shares with a minimum initial investment of $3 million, and there will be no minimum amount for additional purchases. The filing is awaiting regulatory approval.

In this case, although the implementation of blockchain is incremental, it ultimately points to a broader trend towards tokenized financial instruments that could include fully digital cash equivalents or real-time settlement mechanisms.

This initiative follows BlackRock's increasing interest in tokenization. Developed in collaboration with the tokenization platform Securitize, the BUIDL fund has already amassed over $1.7 billion in assets and has recently expanded its operations to the Solana blockchain.

BlackRock CEO Larry Fink has long advocated for the potential of decentralized finance. In his 2025 annual shareholder letter, Fink warned that if the U.S. cannot rein in its national debt, it could lose its status as the reserve currency, suggesting that digital assets like Bitcoin could increasingly appeal to global investors.

"Decentralized finance is an extraordinary innovation. It is making markets faster, cheaper, and more transparent," wrote Fink. "Yet, the same innovation could undermine America's economic advantage."

As traditional finance continues to experiment with blockchain infrastructure, BlackRock's latest filing could mark a significant moment in the mainstream adoption of tokenized financial products.