PANews reported on May 5 that BUIDL, a tokenized fund under BlackRock, the world's largest asset management company, has rapidly grown to an asset management scale of $2.7 billion, demonstrating its leading position in the tokenized Treasury market.
The BUIDL fund was launched in March 2024 and is a tokenized money market fund aimed at institutional investors. By issuing blockchain tokens pegged 1:1 to the US dollar, it allows investors to invest in highly liquid assets such as cash, US Treasuries, and repurchase agreements, and receive daily earnings dividends in token form.
Currently, about 92% of the fund's assets are deployed on the Ethereum network. In addition, to expand its business and improve efficiency, BlackRock has extended the deployment of BUIDL to seven other blockchain networks, including Solana, Aptos, Arbitrum, Avalanche, Optimism, and Polygon.
