PANews reported on May 5th that the tokenized fund BUIDL (USD Institutional Digital Liquidity Fund) under BlackRock, the world's largest asset management company, has rapidly grown its asset management scale to $2.7 billion, demonstrating its dominant position in the Tokenized Treasury market.
Launched in March 2024, the BUIDL fund is a tokenized money market fund for institutional investors that allows investors to invest in high-liquidity assets such as cash, US Treasuries, and repurchase agreements by issuing blockchain tokens anchored 1:1 with the US dollar, and receive daily dividend distributions in token form.
Currently, approximately 92% of the fund's assets are deployed on the Ethereum network. Additionally, to expand its business and improve efficiency, BlackRock has extended BUIDL's deployment to seven other blockchain networks, including Solana, Aptos, Arbitrum, Avalanche, Optimism, and Polygon.
