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BlackRock's token related to their digital asset ventures is called BUIDL, which stands for "BlackRock USD Institutional Digital Liquidity Fund". Here's what we know so far:

Function: BUIDL is associated with a tokenized investment fund that BlackRock is launching in partnership with Securitize [1]. The exact assets the fund will hold are not yet public, but it likely involves tokenized real-world assets (RWA) based on Securitize's expertise [1].
Status: BlackRock has filed the necessary paperwork with the SEC for the fund, but it's still pending approval [2]. There's also a token named BUIDL on the Ethereum blockchain, likely created in anticipation of the fund's launch [2].
Significance: This is a significant step for BlackRock, the world's largest asset manager, as it delves deeper into digital assets. They already offer a Bitcoin ETF and are seeking one for Ethereum as well. BUIDL could represent a new direction in tokenizing traditional investment products [1].
Things to note:

BUIDL is not yet a tradable token on public exchanges.
There's limited information on the specific assets the fund will hold.
You should not consider this financial advice.

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