Ethena is the largest LP for BlackRock's BUIDL fund, with an indirect holding of approximately $1.3 billion
According to PANews, Token Terminal data shows that the stablecoin USDtb issued by Ethena Labs is supported by approximately 90% of its assets in BlackRock's BUIDL fund LP shares, indirectly becoming the largest liquidity provider for the fund with a holding size of $1.3 billion.