BNY Dreyfus On-Chain Liquidity Fund (BCLXX), BLIQUID token
Research and shelf status are on the memo: BNY Dreyfus On-Chain Liquidity Fund (BCLXX), BLIQUID token Favorable research; shelf not set
Who may buy, hold, transfer, and redeem
Each answer rests on the issuer’s own words, quoted from the document named under it. Ketju re-reads each document and records whether the words are still there. Where the documents say nothing, the row says so.
- What the holder owns
A share of the fund; the token is the book-entry record of that share and not a separate security.
“Book-Entry Tokens are book-entry records of the Shares of the Fund and do not represent a separate or derivative security.”
SEC EDGAR: Amendment No. 2 to the BNY Mellon Transfer, Inc. transfer agency agreement, Schedule H Digital Share Services (filed 25 September 2026 as EX-99.h to a 485BPOS) · Schedule H, section 7.1 · words found 2026-09-25
- Who may hold it
Stablecoin issuers and institutions, for themselves or through a bank, broker-dealer, or adviser.
“The fund is designed for purchase by stablecoin issuers and institutional investors.”
SEC EDGAR: BNY Dreyfus On-Chain Liquidity Fund prospectus and SAI dated 24 July 2026 (497, filed 29 July 2026) · Fund Summary, Purchase and Sale of Fund Shares · words found 2026-09-25
- Who may hold it
Not individuals or retirement plans.
“Shares of the fund are generally not eligible for retirement plans or individual investors.”
SEC EDGAR: BNY Dreyfus On-Chain Liquidity Fund prospectus and SAI dated 24 July 2026 (497, filed 29 July 2026) · Shareholder Guide, Buying and Selling Shares · words found 2026-09-25
- First purchase minimum
$3,000 first investment and $3,000 for each later one.
“The fund’s minimum initial investment is $3,000. The fund’s minimum subsequent investment is $3,000.”
SEC EDGAR: BNY Dreyfus On-Chain Liquidity Fund prospectus and SAI dated 24 July 2026 (497, filed 29 July 2026) · Shareholder Guide, Buying and Selling Shares · words found 2026-09-25
- Account types
A wallet kept by a provider the transfer agent accepts; a holder may not keep the key.
“the wallet must be maintained by a digital wallet provider (self-custodied wallets are not supported at this time)”
SEC EDGAR: BNY Dreyfus On-Chain Liquidity Fund prospectus and SAI dated 24 July 2026 (497, filed 29 July 2026) · Fund Summary, Use of Blockchain, wallet provider criteria (i) · words found 2026-09-25
- Account types
At launch the accepted providers are Anchorage Digital, BitGo Bank & Trust, and BNY.
“Eligible investors that have a digital wallet maintained for them by digital custody providers, Anchorage Digital or BitGo Bank & Trust, N.A., or directly by BNY, can invest in the fund.”
BNY Investments: BNY Investments Launches Its First Native Blockchain Product, BLIQUID by BNY (4 August 2026) · Page 1, fourth paragraph · words found 2026-09-25
- Who it may be transferred to
Holder to holder at any hour, but only between allow-listed wallets on the same chain; the transfer agent may reject and reverse one.
“The book-entry tokens may only be transferred to another allow-listed wallet within the closed-ecosystem of allow-listed wallets on the same blockchain.”
SEC EDGAR: BNY Dreyfus On-Chain Liquidity Fund prospectus and SAI dated 24 July 2026 (497, filed 29 July 2026) · Fund Details, Use of Blockchain, Share Recording · words found 2026-09-25
- How a holder redeems
A redemption accepted by the last NAV of the day is normally wired the same day.
“If a request for redemption is received and accepted by the fund by the time of day at which the fund determines its last NAV, the proceeds of the redemption ordinarily will be transmitted by wire in federal funds on the same day, and the shares will not receive the dividend declared on that day.”
SEC EDGAR: BNY Dreyfus On-Chain Liquidity Fund prospectus and SAI dated 24 July 2026 (497, filed 29 July 2026) · Shareholder Guide, How to Sell Shares · words found 2026-09-25
- Who keeps the official record
The blockchain is the official record; no certificates are issued, and an off-chain copy is kept and reconciled at least daily.
“Share ownership is officially recorded on the blockchain, as described above; therefore, no share certificates will be issued.”
SEC EDGAR: BNY Dreyfus On-Chain Liquidity Fund prospectus and SAI dated 24 July 2026 (497, filed 29 July 2026) · Shareholder Guide, How to Buy Shares · words found 2026-09-25
- What the issuer says it can freeze or take back
The transfer agent freezes the tokens when it receives a redemption order, then removes them.
“If you place a redemption order via the Portal, the Transfer Agent will freeze the book-entry tokens in your wallet upon receiving the instruction and will subsequently remove the book-entry tokens from your wallet.”
SEC EDGAR: BNY Dreyfus On-Chain Liquidity Fund prospectus and SAI dated 24 July 2026 (497, filed 29 July 2026) · Shareholder Guide, How to Sell Shares, Through the Portal · words found 2026-09-25
- What the issuer says it can freeze or take back
The transfer agent may freeze, cancel, correct, mint, or burn tokens for errors, security incidents, sanctions, or bankruptcy, as agreed with the fund.
“Freeze, cancel, correct, amend, mint, or burn Book-Entry Tokens to address errors, security incidents, legal process (including sanctions or bankruptcy), or conform such actions to the Master Shareholder Registry and the BNY TA System, as mutually agreed upon by the parties.”
SEC EDGAR: Amendment No. 2 to the BNY Mellon Transfer, Inc. transfer agency agreement, Schedule H Digital Share Services (filed 25 September 2026 as EX-99.h to a 485BPOS) · Schedule H, section 2.6.1 · words found 2026-09-25
| Fact | What the file records |
|---|---|
| Who onboards the holder | issuer |
| Voting rights | Yes |
| Distributions | new tokens |
| SIPC coverage of the wallet | No |
The transfer agent’s SEC record
A transfer agent registers with the SEC on Form TA-1 and reports each year on Form TA-2: how many securityholder accounts it keeps and for how many issues it keeps the master securityholder file, the list that says who owns each share.
| Agent | SEC file | TA-2 period | Accounts | Issues with master file | Work it hires out |
|---|---|---|---|---|---|
| BNY MELLON TRANSFER INC | 084-06102 | 2025-12-31 | 140,982 | 0 | BNY Mellon Investment Servicing (US) Inc. |
| BNY Mellon Investment Servicing (US) Inc. | 084-01761 | 2025-12-31 | 2,971,312 | 5,310 | BNY Mellon International Operations (India) Private Ltd; ExlService Phillippines, Inc.; ExlService.com, LLC |
Who can change the record
Powers read from the deployed contracts and their verified source: the token and every contract it consults on transfer. A power recorded here is the issuer’s ability, not evidence it has been used.
No token contract for this program is public, so nothing can be read from the chain yet. The issuer’s own statement of its powers is quoted above. Ketju reads the contract the day one is published.
Where it trades
| Venue | Kind |
|---|---|
| BNY Active Investor Portal (dreyfus.com) | issuer primary |
How it exits
| Path | Cutoff | Settlement | Settles in |
|---|---|---|---|
| Redeem with the fund at NAV by the daily cutoff | 17:00 America/New_York | Orders go through the Portal at any hour and are processed when the fund is open, with NAV struck hourly from 8 a.m. to 5 p.m. Eastern. A redemption accepted by the last NAV of the day is normally wired in federal funds the same day; one accepted later is wired the next business day. The transfer agent freezes the tokens on receipt of the order and then removes them. Proceeds may take up to seven days in stress, and the fund may pay in securities. Redemption by sending tokens to a burn address is not offered yet. Wallet providers may convert the dollars to stablecoins outside the fund. | USD |
- BNY publishes the BLIQUID contract address on Ethereum or Solana, or an explorer ties a token to the fund; the file then reads the contract and completes the control surface
- A prospectus supplement changes who may hold, the $3,000 minimum, the wallet providers, the chains, or offers redemption to a burn address
- A Form N-MFP3 shows a second holder category, a redemption, or net assets away from $25 million
- BNY Mellon Transfer, Inc. amends the Digital Share Procedures in a way the fund discloses, or Schedule H is amended again
- The fund converts Digital Shares to standard shares under Schedule H section 11, or the board elects a once-daily NAV
What the monitor reads daily
Nothing on chain yet: no contract is public. The documents quoted above are re-read every day, and any change to them opens a review item, which is how a first published contract shows up. The contract joins the daily read the day it is published. EDGAR is read for the transfer agent’s registration.
File history
Not revised since it was filed. A revision keeps the superseded copy as published, with the reason.
| Date | Change |
|---|---|
| 2026-09-25 | Filed. |
Sources
- SEC EDGAR: BNY Dreyfus On-Chain Liquidity Fund prospectus and SAI dated 24 July 2026 (497, filed 29 July 2026) · primary · accessed 2026-09-25
Supports: government money market fund under Rule 2a-7, blockchain entries are the official record, daily reconciliation, Ethereum and Solana, allow-listed custodial wallets, stablecoin issuers and institutional investors, not for individuals, $3,000 minimum, hourly NAV, same-day wire, freeze on redemption, peer-to-peer transfer, clawback, fees and waiver, dividends reinvested, SIPC - SEC EDGAR: BNY Dreyfus On-Chain Liquidity Fund summary prospectus (497K, filed 29 July 2026) · primary · accessed 2026-09-25
Supports: ticker BCLXX, purchase and sale of fund shares, principal risks - SEC EDGAR: Amendment No. 2 to the BNY Mellon Transfer, Inc. transfer agency agreement, Schedule H Digital Share Services (filed 25 September 2026 as EX-99.h to a 485BPOS) · primary · accessed 2026-09-25
Supports: fund designated a Digital Fund, tokens are book-entry records, not a separate security, Master Shareholder Registry represented by the token, freeze, cancel, mint, burn, reissue, smart contracts owned solely by BNYMTI, procedures amendable without fund consent, conversion to standard shares, no custody relationship, stablecoin mint and burn - SEC EDGAR: Dreyfus Government Cash Management Funds, Post-Effective Amendment No. 88 (POS EX, filed 15 September 2026) · primary · accessed 2026-09-25
Supports: registration file numbers, certificate of designation, management and distribution agreements amended 26 May 2026, Morgan Lewis opinion - SEC EDGAR: Form N-MFP3 for BNY Dreyfus On-Chain Liquidity Fund, August 2026 · primary · accessed 2026-09-25
Supports: $25,000,000 net assets, one subscription on 3 August 2026, one beneficial holder category, Treasury bills and one repo, WAM 16 days, seven-day net yield, BNY Mellon Transfer Inc as transfer agent - BNY Investments: BNY Investments Launches Its First Native Blockchain Product, BLIQUID by BNY (4 August 2026) · primary · accessed 2026-09-25
Supports: launch date, Anchorage Digital, BitGo, and BNY as wallet providers, Ethereum and Solana, shares issued natively on chain, LiquidityDirect support anticipated - Dreyfus: Digital Liquidity Solutions (BLIQUID page) · primary · accessed 2026-09-25
Supports: one token is one share, 24/7 transfers between allow-listed wallets, Active Investor Portal, institutional investors only - Dreyfus: BLIQUID by BNY brochure · primary · accessed 2026-09-25
Supports: 1 BLIQUID token = 1 share, USDC-to-USD conversion where enabled, burn wallet, for institutional investors only