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Arkham

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BlackRock

BlackRock’s BUIDL (BlackRock USD Institutional Digital Liquidity) Fund has once again captured noteworthy attention with its massive stablecoin accumulation today. On-chain insights indicated that the tokenized fund of one of the leading asset managers bagged a whopping $11 million worth of USDC from Circle, the stablecoin giant. This accumulation has set off a flurry of discussions across the broader market, with the BUIDL Fund address’ holdings evaluating above $88 million while writing. So, let’s take a closer look at the fund’s latest market stats. 
<h2 id="blackrock-buidl-fund-bags-usdc">BlackRock BUIDL Fund Bags USDC</h2> 
According to the data revealed by Arkham Intelligence, the BlackRock BUIDL Fund address ‘0x13e’ received 11 million USDC from Circle hot wallet 0x55F today. This transaction has pushed the total USDC holdings of the address to $88.16 million. 
Meanwhile, the address’ other holdings included MOG, COLLE, and Shina Inu, among many others coins. Nevertheless, the lion’s share belonged to the <a href="https://coingape.com/glossary/stable-coins/" target="_blank" rel="noopener">stablecoin</a> USDC, as the total value of assets held by the address capped in at $88.33 million. 
The USDC accumulation by the fund appears to align with Circle’s facilitation of seamless <a href="https://coingape.com/glossary/tokenization/" target="_blank" rel="noopener">tokenization</a> services to BUIDL investors. Further, recent data from Dune analytics revealed that BUIDL holders have spiked in recent days. The number of holders totaled 19 at press time, whereas the USDC redeemable fund was evaluated as $77.40 million. 
<figure id="attachment_209819" aria-describedby="caption-attachment-209819" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-209819" src="https://coingape.com/wp-content/uploads/2024/07/BUIDL-holders.png" alt="BUIDL holders" width="609" height="347" srcset="https://coingape.com/wp-content/uploads/2024/07/BUIDL-holders.png 1390w, https://coingape.com/wp-content/uploads/2024/07/BUIDL-holders-300x171.png 300w, https://coingape.com/wp-content/uploads/2024/07/BUIDL-holders-1224x697.png 1224w, https://coingape.com/wp-content/uploads/2024/07/BUIDL-holders-768x438.png 768w, https://coingape.com/wp-content/uploads/2024/07/BUIDL-holders-150x85.png 150w" sizes="(max-width: 609px) 100vw, 609px">
 <figcaption id="caption-attachment-209819" class="wp-caption-text">
 Source: Dune Analytics
 </figcaption>
</figure> 
Also Read: <a href="https://coingape.com/shiba-inu-coin-140m-shib-burnt-weekly-projects-optimism-0-0000369-possible/" target="_blank" rel="noopener">Shiba Inu Coin: 140M SHIB Burnt Weekly Projects Optimism, $0.0000369 Possible?</a> 
<h2 id="more-about-the-tokenized-fund">More About The Tokenized Fund</h2> 
The Blackrock BUIDL Fund was launched in March this year, showcasing the asset manager’s venture into the tokenization domain via the Ethereum network. Primarily, with the help of the Ethereum <a href="https://coingape.com/glossary/blockchain/" target="_blank" rel="noopener">blockchain</a>, the fund invests in cash, short-term debt securities, and U.S. Treasury bonds. 
Meanwhile, it’s also worth mentioning that roughly two weeks ago, the fund address was recorded as receiving another 11 million USDC from the same Circle hot wallet. 
Also, it’s worth mentioning that in light of the recent Ethereum ETF launch, the BlackRock Ethereum wallet received colossal amounts of ETH from Coinbase, another crypto trading giant. 
Also Read: <a href="https://coingape.com/render-price-soars-as-binance-announces-trading-services/" target="_blank" rel="noopener">Render Price Soars As Binance Announces Trading Services</a> 
The post <a href="https://coingape.com/blackrock-buidl-fund-accumulates-11m-usdc-stablecoins-from-circle/">BlackRock BUIDL Fund Accumulates $11M USDC Stablecoins From Circle</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

BlackRock BUIDL Fund Accumulates $11M USDC Stablecoins From Circle

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