Identified as BUIDL, BlackRock's USD Institutional Digital Liquidity Fund stands out in the realm of financial investments. has attracted As observed by RWA.xyz, BlackRock's BUIDL has accumulated over $1 billion in assets under management within its inaugural year.
Let’s be honest. The financial stakes are high. What's done is done. We must regroup and unite our efforts.
The latest data indicates BlackRock's leading tokenized fund experienced a 56.4% increase in assets over 30 days, surpassing $1 billion. The number of holders grew by almost 20%, reaching 61, with Ethereum accounting for $825.4 million. Other networks like Avalanche, Polygon, Aptos, Optimism, and Arbitrum also hold a share.
A Billion Means Nothing
Reports have surfaced showing Ethena Labs' significant $200 million contribution to the BUIDL fund. This substantial investment helped the fund cross the $1 billion threshold.
Data from Arkham Intelligence shows the creation of $200 million in BUIDL tokens, released late Thursday.
In December, Ethena introduced USDtb — a stablecoin meant to complement its counterpart USDe. USDtb has over 90% of its reserves in BUIDL tokens, with additional support from stablecoins like USDC and USDT.
Dollar-pegged like other common stablecoins such as USDC and USDT, USDtb is designed to maintain a consistent value of $1 per token.
Launched in collaboration with Securitize last March, BUIDL swiftly secured a spot among top tokenized funds following on-chain Treasury activities, targeting qualified institutional investors with on-chain U.S. dollar yield exposure.
Apart from Ethena, Ondo Finance also utilizes BUIDL within its financial products, notably backing its money market fund with a substantial BUIDL balance.
Tokenized Government Securities have now surpassed an impressive $4.4 billion.
BUIDL's leap to over $1 billion has notably propelled the tokenized treasury sector past the $4.4 billion mark, with significant contributions from competitors like Franklin Templeton, Ondo Finance, and Superstate.
Recent reports indicate a 16% rise in asset value for Franklin Templeton's Franklin OnChain US Government Money Fund (FOBXX) over the past month.
Though previously among the top tokenized funds, Franklin’s FOBXXX has dropped to the third-largest position amid strong competition from BlackRock's BUIDL. Its market cap is now approximately $689 million.
Holding $868 million in assets, Hashnote’s USYC is the second-largest tokenized U.S. Treasury fund, but it saw a 24.35% drop in asset value over the last month.
As a significant player in the tokenized treasuries field, Ondo Finance’s USDY experienced a 53% surge in market value over the past 30 days, reaching over $592 million. This situates it behind BUIDL, USYC, and FOBXXX.
In a bid to enhance BUIDL’s DeFi applications, Securitize has teamed up with DeFi oracle provider RedStone. RedStone will furnish price feeds, facilitating BUIDL’s integration into money market exchanges and collateralized platforms.
BlackRock's CEO, Larry Fink, has championed the tokenization of financial assets like bonds and stocks, citing its potential to make investing more accessible to the masses.
Coinbase, a key player in the crypto world, is revisiting its earlier plan to tokenize its shares, labeled $COIN, along with other securities in the U.S. market. The idea, paused due to regulatory challenges since its proposal in 2020, is back in action.
Encouraged by the SEC's new crypto task force and changing regulations under Trump, Coinbase is revisiting the path of tokenized securities.
These tokenized securities deliver benefits like better liquidity, swift transactions, enhanced transparency, and security, offering traditional securities features with blockchain's added efficacy.
