BlackRock's Token Fund Reaches $2.5 Billion in Assets
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According to PANews, BlackRock's token fund on-chain, BUIDL, has reached an asset management range of $2.5 billion, with nearly 80% of the funds concentrated in four wallet addresses. Chain data reveals that the stablecoin protocol Ethena holds $1.3 billion, the Spark protocol holds $500 million, and another major holder is the Crypto Relief Fund, founded by Sandeep Nailwal, co-founder of Polygon, which holds approximately $140 million. Michael Sonnenshein, CEO of Securitize, noted that BUIDL's high concentration is due to its institutional product positioning, with a minimum investment of $5 million, indicating no intention to pursue "investment democracy." He confirmed that tokenization on-chain is still in its early stages, describing it as "only the second half of the first round." Currently, Securitize is collaborating with traditional giant private equity firms like Apollo and KKR to launch funds on-chain, but these products still require a minimum investment ranging from $20,000 to $50,000, targeting high-net-worth investors.