BUIDL’s fund management is handled by BlackRock Financial Management, while its distribution is managed by Securitize

BlackRock Financial Management's tokenized money market fund BUIDL, launched March 20, 2024, assigns fund management to BlackRock Financial Management, with Securitize Markets handling investor onboarding, Securitize ($SECZ) managing transfer agent and tokenization duties, and BNY Mellon providing asset custody and fund administration. Eligible investors subscribe through Securitize Markets, and while tokens move on blockchain rails, investor qualification and redemptions remain governed by fund rules. The structure matters because it demonstrates how a major asset manager can distribute a blockchain-native fund while keeping regulated fund operations with traditional intermediaries. Watch for adoption by qualified investors, expansion of the tokenization platform's role, and how redemption flows perform under the fund's rules.