Investment giant BlackRock filed documents with the U.S. Securities and Exchange Commission on Thursday to launch a tokenized asset fund. The total size of the fund was not disclosed.

Registered in the British Virgin Islands in 2023, the BlackRock USD Institutional Digital Liquidity Fund will act as a pooled investment fund. According to BlackRock, the minimum investment accepted from any outside investor is $100,000. In its filing, BlackRock declined to specify the amount of the fund, but application values range from $1 to $100 million.

The news of the fund comes amid hopes that a spot Ethereum ETF may be approved after the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs in January. In February, BlackRock's iShares Bitcoin Trust topped $1.3 billion in shares after the launch.

Though BlackRock was short on details, the firm registered an application with the SEC for an iShares Ethereum Trust in February. Speculation around the Institutional Digital Liquidity Fund revolves around the fund being Ethereum-based, with stablecoin assets in the basket.

“I see value in having an Ethereum ETF,” BlackRock CEO Larry Fink told CNBC in January. “As I said, these are just stepping stones towards tokenization.”

This is a developing story and will be updated as more information is available. Edited by Ryan Ozawa.