贝莱德推出机构数字流动性基金，点燃代币化市场

贝莱德和 Securitize 合作创建数字资产基金标志着美国受监管的代币化市场的重大发展。贝莱德的机构数字流动性基金是Securitize上最大的资产，持有现金、美国国库券和回购协议，将其归类为数字货币市场产品。 BUIDL 第一周的资金流入量为 1.75 亿美元，有望成为货币市场中的第二大产品，并可能吸引其他蓝筹基金经理加入 Securitize 生态系统和链上金融。

BlackRock's Institutional Digital Liquidity Fund Launches on Securitize, Catalyzing Tokenization Market

贝莱德机构数字流动性基金推出证券化，促进代币化市场

In a significant development for the burgeoning regulated tokenization market in the United States, investment behemoth BlackRock has partnered with blockchain-based asset tokenization platform Securitize to launch the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).

美国新兴的受监管代币化市场取得了重大发展，投资巨头贝莱德与基于区块链的资产代币化平台 Securitize 合作推出了贝莱德美元机构数字流动性基金 (BUIDL)。

BUIDL, a digital money market product, will invest 100% of its assets in cash, U.S. Treasury bills, and repurchase agreements (repos). The fund's listing on Securitize follows the platform's previous role as the transfer agent and issuance platform for Arca's US Treasury Fund (RCOIN).

BUIDL是一种数字货币市场产品，将把其100%的资产投资于现金、美国国库券和回购协议（repos）。该基金在 Securitize 上市之前，该平台曾担任 Arca 美国国库基金 (RCOIN) 的转让代理和发行平台。

While Arca pioneered the concept of tokenizing ultra-liquid funds in 2020, BlackRock's substantial presence in the financial sector is expected to ignite broader adoption of tokenized assets among institutional investors and money managers.

虽然 Arca 在 2020 年率先提出了超流动性基金代币化的概念，但贝莱德在金融领域的大量业务预计将引发机构投资者和基金经理更广泛地采用代币化资产。

According to data from Security Token Market (STM.co), the lifetime volume of tokenized assets traded on Alternative Trading Systems (ATSs) reached over $110 million by March 2024. BlackRock's $100 million seed funding for BUIDL makes it the largest asset on Securitize. Within a week, inflows of approximately $175 million have positioned BUIDL as the second-largest product in the money market cohort, with $275 million in assets under management (AUM), trailing only Franklin Templeton's money market fund with over $360 million in AUM.

根据 Security Token Market (STM.co) 的数据，到 2024 年 3 月，另类交易系统 (ATS) 上交易的代币化资产的生命周期数量已超过 1.1 亿美元。贝莱德为 BUIDL 提供的 1 亿美元种子资金使其成为 Securitize 上最大的资产。一周之内，大约 1.75 亿美元的资金流入使 BUIDL 成为货币市场中第二大产品，管理资产 (AUM) 为 2.75 亿美元，仅次于富兰克林邓普顿 (Franklin Templeton) 的货币市场基金（AUM 超过 3.6 亿美元）。

Initially available to Qualified Purchasers (QPs) in primary markets, BUIDL offers investors the opportunity to earn yield while evaluating other tokenized alternative investments, such as Securitize's listed KKR and Hamilton Lane funds, all within a single platform.

BUIDL 最初面向一级市场的合格购买者 (QP) 提供，为投资者提供了在评估其他代币化另类投资（例如 Securitize 上市的 KKR 和 Hamilton Lane 基金）的同时赚取收益的机会，所有这些都在一个平台内进行。

As noted by Security Token Advisors in its 2023 State of Security Tokens report series, money markets and treasuries represent a gateway for asset managers to become familiar with tokenization technology and its potential. BlackRock's liquidity fund is expected to serve as a benchmark for other blue-chip money managers to park capital and familiarize themselves with the benefits of on-chain finance.

正如 Security Token Advisors 在其 2023 年安全代币状况报告系列中指出的那样，货币市场和国债是资产管理者熟悉代币化技术及其潜力的门户。贝莱德的流动性基金预计将成为其他蓝筹基金管理公司停放资金和熟悉链上金融优势的基准。

On March 27, 2024, Ondo Finance reallocated $95 million from its own tokenized short-term bond fund to BUIDL. This move underscores the growing confidence among fiduciaries in Securitize and its access to BUIDL. As more fiduciaries join the platform, a substantial influx of capital is anticipated, benefiting not only BUIDL but also other alternative investment products and listings on Securitize Markets' primary and secondary trading venues.

2024 年 3 月 27 日，Ondo Finance 将其自有的代币化短期债券基金中的 9500 万美元重新分配给 BUIDL。此举凸显了受托人对 Securitize 及其进入 BUIDL 的信心不断增强。随着越来越多的受托人加入该平台，预计将有大量资本涌入，这不仅有利于 BUIDL，也有利于其他另类投资产品以及在 Securitize Markets 的一级和二级交易场所上市。

The launch of BUIDL and the subsequent surge in activity on Securitize Markets is expected to set a precedent for other broker-dealers, alternative trading systems, and comparable regulated venues in terms of issuer structuring and tokenization strategies.

BUIDL 的推出以及随后 Securitize Markets 活动的激增预计将为其他经纪自营商、另类交易系统和类似受监管场所在发行人结构和代币化策略方面树立先例。