BlackRock's Tokenized Fund BUIDL Surpasses $500M in Assets Under Management
Crypto News

BlackRock's Tokenized Fund BUIDL Surpasses $500M in Assets Under Management

2m
Created 1w ago, last updated 1w ago

BlackRock's tokenized fund, BUIDL, has achieved a significant milestone by crossing a market value of $502.8 million, as per Etherscan data.

BlackRock's Tokenized Fund BUIDL Surpasses $500M in Assets Under Management
BlackRock's tokenized fund, BUIDL, has achieved a significant milestone by crossing a market value of $502.8 million, as per Etherscan data. Launched in March on Ethereum through a collaboration with Securitize Markets, BUIDL, also known as the BlackRock USD Institutional Digital Liquidity Fund, offers institutional investors a unique opportunity to earn yields on tokenized U.S. Treasuries.

In just over four months since its inception, BUIDL has become the first tokenized fund to exceed the half-billion-dollar mark, establishing itself as the largest of its kind, according to data from rwa.xyz. This achievement has pushed the Franklin Templeton OnChain U.S. Government Money Fund (FOBXX) to second place, which now manages assets over $400 million. The FOBXX fund has been available since April 2021.

The third most valuable tokenized fund is Ondo Finance’s USD Yield fund (USDY), which launched last August and currently holds $281 million in assets under management (AUM). The rapid growth of BUIDL highlights the increasing interest and investment in tokenized treasuries, a market that has expanded by over 130% since the beginning of the year, now valued at more than $1.8 billion.
Overall, the market for real-world assets (RWA) is currently valued at $12.45 billion, with industry experts anticipating further growth. Last month, RWA emerged as one of the best-performing sectors, driven by projects such as Ondo Finance, Clearpool, and Maple Finance. These projects saw their native tokens' fully diluted market cap increase by 53% in May alone.

BlackRock CEO Larry Fink has been vocal about the transformative potential of tokenization for financial assets. In an interview with Bloomberg earlier this year, Fink stated, “We could customize strategies through tokenization that fits every individual, we would have instantaneous settlement. We believe this is a technological transformation for financial assets.”

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
1 person liked this article