BlackRock BUIDL fund size reaches US$2.7 billion, and 92% of its assets are deployed on the Ethereum network

PANews reported on May 5 that the asset management scale of BUIDL (Dollar Institutional Digital Liquidity Fund), a tokenized fund under BlackRock, the world's largest asset management company, has rapidly grown to US$2.7 billion, showing its dominance in the tokenized US Treasury market.

Launched in March 2024, BUIDL Fund is a tokenized money market fund for institutional investors. By issuing blockchain tokens anchored to the US dollar, investors can invest in high-liquid assets such as cash, US Treasury bonds and repurchase agreements, and obtain daily income dividends in the form of tokens.

Currently, about 92% of the fund's assets are deployed on the Ethereum network. In addition, to expand business and improve efficiency, BlackRock has deployed BUIDL extensions to seven other blockchain networks including Solana, Aptos, Arbitrum, Avalanche, Optimism and Polygon.