According to ChainCatcher and DL News, BlackRock's tokenized fund BUIDL has grown to over $2.5 billion since its launch in 2024, with nearly 80% of assets held by just four crypto wallets.
Among these, the stablecoin project Ethena holds approximately $1.3 billion, Spark, the lending protocol by MakerDAO, holds about $500 million, and the crypto relief fund initiated by Polygon co-founder Sandeep Nailwal holds $140 million.
Michael Sonnenshein, Chief Operating Officer of BlackRock's tokenization partner Securitize, stated that the fund requires a minimum investment of $5 million, and as an institutional-level product, its highly concentrated holdings are normal. Currently, the global tokenization market size has exceeded $18 billion.
