Franklin

Ondo

Solana

Fortune

BlackRock

BlackRock’s tokenized money market fund has expanded to the Solana blockchain as its market capitalization approaches the $2 billion mark.On March 25, Carlos Domingo, the founder and CEO of real-world asset (RWA) tokenization platform Securitize, <a href="https://x.com/carlosdomingo/status/1904514437106597916" rel="noopener noreferrer nofollow">welcomed</a> the Solana network to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). This marked the tokenized money market fund’s expansion to another blockchain network.&nbsp;BlackRock <a href="https://cointelegraph.com/news/blackrock-begins-asset-tokenization-launch-digital-liquidity-fund" rel="noopener noreferrer nofollow">launched BUIDL in March 2024</a> in partnership with Securitize. In a Fortune report, Securitize chief operating officer Michael Sonnenshein said the fund <a href="https://fortune.com/crypto/2025/03/25/blackrocks-buidl-solana-tokenized-money-market-fund-eyes-2-billion-buidl/" rel="noopener noreferrer nofollow">aims</a> to make offchain assets “unboring.”&nbsp;The executive said they are advancing some of the deficiencies of money markets in their traditional formats.&nbsp;<h2 id="blackrock-s-buidl-at-1-7-billion-market-cap">BlackRock’s BUIDL at $1.7 billion market cap</h2>RWA data platform rwa.xyz shows that BlackRock and Securitize’s BUIDL leads the Tokenized United States Treasurys in market capitalization. The platform’s data <a href="https://app.rwa.xyz/treasuries" rel="noopener noreferrer nofollow">shows</a> that the fund has a market capitalization of $1.7 billion and a nearly 34% market share.&nbsp;<figure><img alt="BlackRock’s BUIDL expands to Solana as tokenized money market fund nears $2B" src="https://s3.cointelegraph.com/uploads/2025-03/0195cd8a-7ec3-7a02-8ad7-61e7ddd0cb38" title=""><figcaption>BlackRock's BUIDL reached a $1.7 billion market cap. Source: RWA.xyz</figcaption></figure>BUIDL dominates the Tokenized US Treasurys list as the leading asset in its class. The tokenized product is followed by Hashnote, Franklin Templeton and Ondo USDY.&nbsp;The fund has experienced significant growth in just seven months. In July 2024, BUIDL’s market capitalization <a href="https://cointelegraph.com/news/blackrock-tokenized-treasury-fund-buidl-reaches-500-million" rel="noopener noreferrer nofollow">first reached $500 million</a>. Its current market capitalization represents 240% growth since July.&nbsp;BUIDL’s price is pegged to the US dollar and pays daily accrued dividends to investors each month through its Securitize partnership. As of August 2024, the fund had <a href="https://cointelegraph.com/news/blackrock-tokenized-buidl-fund-paid-7-million-dividends-since-march" rel="noopener noreferrer nofollow">paid its holders $7 million</a> in dividends.&nbsp;Related: <a href="https://cointelegraph.com/news/frax-community-approves-stablecoin-backed-blackrock-buidl" rel="noopener noreferrer nofollow">Frax community approves frxUSD stablecoin backed by BlackRock's BUIDL</a><h2 id="buidl-s-solana-expansion-comes-over-1-year-since-launch">BUIDL’s Solana expansion comes over 1 year since launch</h2>The tokenized product’s expansion into the Solana ecosystem comes months after the product <a href="https://cointelegraph.com/news/blackrock-buidl-goes-multichain" rel="noopener noreferrer nofollow">started to go multichain</a>.On Nov. 13, the tokenized money market fund, which was initially launched on the Ethereum network, expanded to Aptos, Arbitrum, Avalanche, Optimism and Polygon. The chain expansion was expected to attract more investors to the product.&nbsp;While tokenized Treasurys have expanded to other blockchains, Ethereum continues to dominate the asset class. According to RWA.xyz, Ethereum-based treasuries have a market capitalization of $3.6 billion, 72% of the market.&nbsp;<figure><img alt="BlackRock’s BUIDL expands to Solana as tokenized money market fund nears $2B" src="https://s3.cointelegraph.com/uploads/2025-03/0195cd8a-1ffa-7ae5-b049-4d07a0dd0b2a" title=""><figcaption>Tokenized treasuries market capitalization by blockchain. Source: RWA.xyz</figcaption></figure>Magazine: <a href="https://cointelegraph.com/magazine/beyond-peak-memecoin-solana-100x-better-despite-revenue-plunge/" rel="noopener noreferrer nofollow">Memecoins are ded — But Solana ‘100x better’ despite revenue plunge</a>

BlackRock’s BUIDL expands to Solana as tokenized money market fund nears $2B

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