BlackRock, one of the world's largest asset managers, filed to launch DLT shares of its $150 billion Treasury Trust Fund, a money market fund. DLT shares refer to digital shares with ownership tracked using distributed ledger technology.

According to the Form N-1A filed with the Securities and Exchange Commission on Monday, the DLT shares will be sold solely through BNY Mellon. The minimum initial investment by an institution for DLT shares is set at $3 million, with no minimum requirements for further investments.

"Although the Fund does not currently employ blockchain technology or invest in crypto assets, … [BNY] intends to use blockchain technology to maintain a mirror record of share ownership for its customers," the filing explained.

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