BlackRock Files for Tokenized Shares in $150B Treasury Fund via BNY Mellon

BlackRock has taken a significant step toward integrating blockchain technology into traditional finance with a new SEC filing for its $150 billion Treasury Trust fund. The asset management giant proposes issuing "DLT shares"—digital representations of fund ownership recorded on distributed ledger technology.

BNY Mellon will serve as the exclusive custodian for these tokenized shares, maintaining a parallel blockchain-based record of institutional holdings. The move signals growing institutional interest in leveraging crypto infrastructure for traditional assets, though the fund itself remains focused on short-term U.S. Treasury obligations.

With a $3 million minimum entry point for institutional investors, BlackRock’s initiative could bridge the gap between conventional finance and blockchain efficiency. The filing explicitly notes the fund won’t directly invest in cryptocurrencies, instead using DLT purely as a settlement layer—a distinction that may appeal to regulated entities exploring blockchain adoption.