BlackRock, the world’s largest asset manager, tokenized a recently-launched fund on the Ethereum blockchain.

The BlackRock USD Institutional Digital Liquidity Fund, which has the token ticker BUIDL, was launched 15 days ago on Ethereum, according to Etherscan data, but was incorporated last year, a filing to the U.S. Securities and Exchange Commission shows.

Securitize Markets, a company specializing in tokenized securities, is likely the broker of the fund.

Requests for comment from BlackRock and Securitize were not answered by publication time.

For Accredited Investors

The offering is open-ended, meaning that there is no maximum limit on the amount of funds that can be invested, and has a minimum investment threshold of $100,000.

The fund was issued with exemptions under Rule 506(c) and Section 3(c) of the Investment Company Act. Rule 506(c) allows BlackRock to advertise the securities offering to a wider audience, as long as all purchasers are verified accredited investors.

Sales commissions of approximately $525,000 are mentioned in the filing, with Securitize Markets listed as the recipient. This implies that Securitize Markets may play a role as a broker or placement agent.

Securitize lists products including private equity funds by Hamilton Lane and KKR, a U.S. Treasuries fund by Arca, and a venture capital fund by Blockchain Capital, but hasn’t listed BlackRock’s BUIDL fund on the “invest” section of its website.

BlackRock’s Crypto Play

BlackRock’s iShares Bitcoin Trust is the largest spot Bitcoin ETF after Grayscale’s GBTC, with over $6 billion in assets under management.

The investments giant also filed to list a spot Ethereum ETF, which CEO Larry Fink said would be “just stepping stones towards tokenization,” adding that the technology to tokenize everything already exists.