Eligibility file · treasury fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL)
What the client owns
Issuer direct. The on-chain record is the securityholder file; the holder is the registered owner.
Who may hold it
US qualified purchasers. First purchase $5,000,000.
Who can freeze or claw back
Securitize, LLC: allowlist · pause · clawback · mint · upgrade on Ethereum.
How it exits
Redeem with the issuer in its window. Daily redemption through Securitize in U.S. dollars at the stable $1.00 token value. Settles in USD.
Research and shelf status are on the memo: BlackRock BUIDL Favorable research; shelf not set
Who may buy, hold, transfer, and redeem
The issuer’s own terms, restated. Where the documents say nothing, the row says so.
| Question | The issuer’s terms |
|---|---|
| US persons | Permitted |
| Investor status | US qualified purchasers |
| Account types | entity |
| First purchase minimum | $5,000,000 |
| Who onboards the holder | broker dealer |
| Voting rights | None |
| Distributions | new tokens |
| SIPC coverage of the wallet | No |
Who can change the record
Powers read from the deployed contract and its verified source, not from marketing copy. A power recorded here is the issuer’s ability, not evidence it has been used.
| Chain | Allowlist | Freeze | Pause | Clawback | Mint authority | Upgradeable |
|---|---|---|---|---|---|---|
| Ethereum | Yes | No | Yes | Yes | Yes | |
| Solana | Yes | Yes | No | Yes | Yes |
- onchain:0x7712c34205737192402172409a8f7ccef8aa2aec#eip1967.implementation=0x603bb6909be14f83282e03632280d91be7fb83b2@26036814 · read 2026-09-23
- onchain:0x7712c34205737192402172409a8f7ccef8aa2aec#owner()=0xe01605f6b6dc593b7d2917f4a0940db2a625b09e@26036814 · read 2026-09-23
- onchain:0x7712c34205737192402172409a8f7ccef8aa2aec#isPaused()=false@26036814 · read 2026-09-23
- onchain:0x7712c34205737192402172409a8f7ccef8aa2aec#target()=0x603bb6909be14f83282e03632280d91be7fb83b2@26036814 · read 2026-09-23
- abi:sourcify:1:0x603bb6909be14f83282e03632280d91be7fb83b2#issueTokensWithNoCompliance · read 2026-09-23
- abi:sourcify:1:0x603bb6909be14f83282e03632280d91be7fb83b2#isPaused · read 2026-09-23
- abi:sourcify:1:0x603bb6909be14f83282e03632280d91be7fb83b2#burn · read 2026-09-23
- abi:sourcify:1:0x603bb6909be14f83282e03632280d91be7fb83b2#issueTokens · read 2026-09-23
- abi:sourcify:1:0x603bb6909be14f83282e03632280d91be7fb83b2#setTarget · read 2026-09-23
- onchain:GyWgeqpy5GueU2YbkE8xqUeVEokCMMCEeUrfbtMw6phr#mintAuthority=APm3MWbXfMMKAWgsDVnxcAGbLjvRxubPu1A8a5SA2kbJ@449549847 · read 2026-09-23
- onchain:GyWgeqpy5GueU2YbkE8xqUeVEokCMMCEeUrfbtMw6phr#freezeAuthority=APm3MWbXfMMKAWgsDVnxcAGbLjvRxubPu1A8a5SA2kbJ@449549847 · read 2026-09-23
- onchain:GyWgeqpy5GueU2YbkE8xqUeVEokCMMCEeUrfbtMw6phr#permanentDelegate=APm3MWbXfMMKAWgsDVnxcAGbLjvRxubPu1A8a5SA2kbJ@449549847 · read 2026-09-23
- onchain:GyWgeqpy5GueU2YbkE8xqUeVEokCMMCEeUrfbtMw6phr#transferHook=FsE8mCJyvgMzqJbfHbJQm3iuf3cRZC6n2vZi1Q8rQCy2@449549847 · read 2026-09-23
On-chain and ABI evidence
Where it trades
| Venue | Kind |
|---|---|
| Securitize primary market | issuer primary |
No Tokenized Securities Venue lists this token. Secondary trading, if any, is outside the exemption.
How it exits
| Path | Cutoff | Settlement | Minimum | Fee | Settles in |
|---|---|---|---|---|---|
| Redeem with the issuer in its window | Daily redemption through Securitize in U.S. dollars at the stable $1.00 token value | USD | |||
| Redeem with the issuer in its window | Circle smart contract exchanges BUIDL for USDC on demand for approved holders | USDC |
- The Securitize compliance service, the proxy target, or the issuer role on the Ethereum contract changes
- The Solana mint authority, freeze authority, permanent delegate, or transfer-hook program changes
- A share class opens to accredited investors or below the $5 million minimum
- A NAV break, missed redemption, or unauthorized mint or transfer
- BlackRock or Securitize publishes contract identities for the other five networks; those chains are then read and added
Reopen conditions: events that change an answer above
What the monitor reads daily
Every control function in the table above, the token’s price against its one-dollar target, and on-chain supply. A change reopens the file before any client action.
Sources
- SEC — BUIDL Form D filing · primary · accessed 2026-08-01
Supports: Rule 506(c) private placement, Section 3(c)(7) fund - BlackRock and Securitize — BUIDL launch terms · primary · accessed 2026-08-01
Supports: $5 million initial minimum, qualified purchasers, stable $1 token value, daily accrued dividends paid monthly as new tokens, Securitize as transfer agent - Securitize — BUIDL Solana share class and seven networks · primary · accessed 2026-08-01
Supports: Solana share class, multi-network issuance - Circle — BUIDL-to-USDC transfer contract · primary · accessed 2026-08-01
Supports: USDC exit on demand - BUIDL Solana mint metadata (points at metadata.securitize.io) · primary · accessed 2026-09-23
Supports: issuer-anchored Solana mint, permanent delegate, transfer hook, freeze authority - Verified implementation on Ethereum (Sourcify) · primary · accessed 2026-09-23
Supports: preTransferCheck compliance gate, pause, seize and omnibusSeize, issueTokens, setTarget upgrade