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encyclopedia
Investment Company Act of 1940
The Investment Company Act of 1940 regulates mutual funds, ETFs, and other pooled investment vehicles — and determines whether tokenized funds like BlackRock's BUIDL must register as investment companies and what protections investors receive.
encyclopedia
Qualified Purchaser
A Qualified Purchaser is an investor meeting the $5M net investable assets threshold under the Investment Company Act of 1940, granting access to the most exclusive private funds — including BlackRock's BUIDL tokenized treasury fund — while enabling fund managers to avoid Investment Company Act registration.