Ethereum

Ondo

Mountain Protocol

Franklin OnChain U.S. Government Money Fund

BlackRock

The BlackRock USD Institutional Digital Liquidity Fund has reached a $500 million market cap, making it the first tokenized treasury fund to reach this milestone.
Launched less than four months ago, BlackRock BUIDL, currently holds $502.8 million worth of tokenized Treasurys, <a href="https://etherscan.io/token/0x7712c34205737192402172409a8f7ccef8aa2aec" target="_blank" rel="noopener nofollow">according</a> to Ethereum block explorer Etherscan.
The milestone was reached after real-world asset tokenization firm Ondo Finance bought more BUIDL, which it uses as a backing asset for its OUSG token.
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 <img src="https://s3.cointelegraph.com/uploads/2024-07/95888d01-62b1-407f-9bdc-5f0630fdb078.png" alt="BlackRock tokenized treasury fund BUIDL reaches $500M">
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 Transactions made with BUIDL’s contract address over the last 8 hours. Source: Etherscan
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<a href="https://cointelegraph.com/news/blackrocks-buidl-becomes-worlds-largest-tokenized-treasury-fund">BlackRock’s BUIDL surpassed</a> the Franklin OnChain U.S. Government Money Fund (BENJI) as the world’s largest tokenized treasury fund in late April — less than six weeks after it <a href="https://cointelegraph.com/news/blackrock-begins-asset-tokenization-launch-digital-liquidity-fund">launched on March 15.</a> BUIDL has held the top position ever since.
BUIDL’s price is pegged 1:1 with the U.S. dollar and pays daily accrued dividends directly to investors each month through its partnership with <a href="https://cointelegraph.com/news/why-tokenized-real-world-assets-are-soaring">real-world asset</a> tokenization platform Securitize. 
Ondo’s OUSG is the largest holder of BUIDL at $173.7 million, while stablecoin issuer firm Mountain Protocol also holds BUIDL to back its permissionless yield-bearing stablecoin, USDM.
Related: <a href="https://cointelegraph.com/news/blackrock-receives-memecoins-nfts-after-depositing-usdc-onchain">BlackRock receives memecoins, NFTs after depositing $100M USDC onchain</a>
There is now $1.67 billion worth of tokenized treasury funds onchain, <a href="https://dune.com/21co/tokenization-government-securities" target="_blank" rel="noopener nofollow">according</a> to Dune Analytics data compiled by the parent firm of 21Shares.
Ethereum is the leading tokenization blockchain with more than a 75% share of treasury funds, followed by Stellar at 23.9%.
In January, BlackRock CEO Larry Fink <a href="https://www.youtube.com/watch?v=HTveRlW7QPo" target="_blank" rel="noopener nofollow">voiced</a> that capital markets could be made more efficient by blockchain tokenization, which Boston Consulting Group estimates will become a<a href="https://cointelegraph.com/news/this-tokenization-platform-aims-to-bridge-the-gap-between-traditional-assets-and-crypto"> $16 trillion market by 2030.</a>
U.S. Treasurys are only one piece of the pie —<a href="https://cointelegraph.com/learn/tokenized-real-world-assets-rwa-in-defi"> stocks, real estate</a> and many other assets can be tokenized too.
The number of real-world asset transactions peaked in April 2024, however, the tally has fallen considerably since then, Dune Analytics <a href="https://dune.com/cryptokoryo/rwa" target="_blank" rel="noopener nofollow">data</a> from Crypto Koryo shows.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-07/57eea96e-8f5c-4098-9dbb-2b985c87fd93.png" alt="BlackRock tokenized treasury fund BUIDL reaches $500M">
 <figcaption style="text-align: center;">
 Number of real-world asset transactions onchain since December 2023. Source: <a href="https://dune.com/cryptokoryo/rwa" target="_blank" rel="noopener nofollow">Dune Analytics</a>
 </figcaption>
</figure>
WisdomTree is another large asset management firm tokenizing RWAs, while Ondo Finance, Backed Finance, Matrixdock, Maple Finance and Swarm are among the blockchain-native firms operating in the space.
Magazine:<a href="https://cointelegraph.com/magazine/block-by-block-blockchain-technology-transforming-real-estate-market/"> Block by block: Blockchain technology is transforming the real estate market</a>

BlackRock tokenized treasury fund BUIDL reaches $500M

Cointelegraph

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