BlackRock USD Institutional Liquidity Fund is a money market fund. Therefore, its price is intended to remain stable at $1.00 per share. However, slight deviations can occur. Fund Performance: Market interest rates and the fund's ability to generate returns influence its price. Higher returns may lead to a slight premium.

Interest Rate Changes: Fluctuations in short-term interest rates impact the fund's yield and attractiveness, causing minor price variations.

Supply and Demand: While designed to be stable, unusually high demand or redemptions could exert minimal upward or downward pressure.

Credit Quality: The creditworthiness of the fund's underlying investments (e.g., government securities, commercial paper) affects its perceived risk and price.

Economic Conditions: Overall economic stability and outlook can influence investor confidence in money market funds.

Regulatory Changes: New regulations impacting money market funds can affect their operations and, consequently, their price.

Management Fees: The fees charged by BlackRock for managing the fund can indirectly influence its return and investor perception.

Inflation Expectations: Inflation expectations influence interest rate movements, thus affecting the fund's yield and price stability.

Global Events: Major global events and economic shocks can impact investor sentiment and the overall stability of financial markets.

Market Volatility: Periods of high market volatility can lead to increased demand for safe-haven assets like money market funds, slightly affecting their price.

Liquidity Conditions: The availability of liquidity in the market can affect the fund's ability to meet redemption requests, impacting its price stability.