Ondo

OUSG

April

Franklin OnChain U.S. Government Money Fund

BlackRock

The world’s largest asset manager, BlackRock’s BUIDL fund reaches a $500 million market cap, holding $502.8 million in tokenized treasuries since its launch less than four months ago, as per Etherscan. 
The fund’s rapid growth was bolstered by a recent purchase from real-world asset tokenization firm Ondo Finance, which uses BUIDL as a backing asset for its OUSG token.&nbsp; 
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 <img decoding="async" width="898" height="407" src="https://www.cryptotimes.io/wp-content/uploads/2024/07/BlackRocks-BUIDL-Fund-Hits-500M-Market-Cap-in-Under-Four-Months.png" alt="BlackRock's BUIDL Fund Hits $500M Market Cap in Under Four Months" class="wp-image-188964" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/07/BlackRocks-BUIDL-Fund-Hits-500M-Market-Cap-in-Under-Four-Months.png 898w, https://www.cryptotimes.io/wp-content/uploads/2024/07/BlackRocks-BUIDL-Fund-Hits-500M-Market-Cap-in-Under-Four-Months-800x363.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/07/BlackRocks-BUIDL-Fund-Hits-500M-Market-Cap-in-Under-Four-Months-768x348.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/07/BlackRocks-BUIDL-Fund-Hits-500M-Market-Cap-in-Under-Four-Months-860x390.png 860w" sizes="(max-width: 898px) 100vw, 898px">
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 Blackrock Transactions Chart – Source: <a href="https://etherscan.io/token/0x7712c34205737192402172409a8f7ccef8aa2aec" target="_blank" rel="noreferrer noopener nofollow">Etherscan</a>
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BUIDL surpassed the Franklin OnChain U.S. Government Money Fund (BENJI) in late April to become the <a href="https://www.cryptotimes.io/2024/05/01/blackrocks-buidl-fund-leads-tokenized-asset-market/" target="_blank" rel="noreferrer noopener">world’s largest tokenized treasury fund</a>, a position it has maintained since its launch on March 15. 
BUIDL maintains a stable price pegged 1:1 with the U.S. dollar and distributes daily accrued dividends directly to investors on a monthly basis through its partnership with the real-world asset tokenization platform Securitize. 
Ondo Finance holds the largest share of BUIDL at $173.7 million, followed by stablecoin issuer Mountain Protocol, which also holds BUIDL to back its permissionless yield-bearing stablecoin, USDM. 
According to data from Dune Analytics, there is now a total of $1.67 billion worth of tokenized treasury funds onchain, with Ethereum leading the tokenization blockchain market with over 75% share, followed by Stellar at 23.9%. 
BlackRock CEO Larry Fink has previously highlighted the potential of blockchain tokenization to enhance efficiency in capital markets. Boston Consulting Group estimates that the blockchain tokenization market could reach $16 trillion by 2030, encompassing not just U.S. Treasurys but also stocks, real estate, and various other assets. 
While real-world asset transactions peaked in April 2024, recent data from <a href="https://dune.com/cryptokoryo/rwa" target="_blank" rel="noreferrer noopener nofollow">Dune Analytics</a> shows a decline in transaction volume since then. WisdomTree and several blockchain-native firms like Ondo Finance, Backed Finance, Matrixdock, Maple Finance, and Swarm are actively involved in tokenizing real-world assets. 
BlackRock’s BUIDL tokenized treasury fund’s rapid ascent to a $500 million market cap underscores growing investor interest in blockchain-based asset tokenization, signaling a potential paradigm shift in global capital markets. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/07/02/blackrock-acquires-preqin-for-3-2b-to-transform-markets/" target="_blank" rel="noreferrer noopener">BlackRock Acquires Preqin for $3.2B to Index Private Markets</a> 
</blockquote>

BlackRock’s BUIDL Fund Hits $500M Market Cap in 4 Months

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