BlackRock Fund’s Amortized-Cost Bond Fund Closes Early, First of 15 Approved

The early closure suggests the first of the newly approved amortized-cost products found demand quickly, a signal worth weighing against the broader appetite for such structures. Because these funds hold bonds to maturity and smooth price swings, their reception may say more about investor preference for stability than about any single issuer. Whether the remaining approved funds fill as fast — and whether that pace holds — is the open question.