BlackRock's BUIDL fund reaches $2.7 billion, with 92% of assets deployed on the Ethereum network

BlackRock's tokenized fund BUIDL (U.S. Institutional Digital Liquidity Fund) has rapidly grown to an asset management scale of $2.7 billion, demonstrating its dominance in the tokenized Treasury market.

Launched in March 2024, the BUIDL fund is a tokenized money market fund aimed at institutional investors. It allows investors to invest in high liquidity assets such as cash, U.S. Treasury securities, and repurchase agreements by issuing blockchain tokens pegged 1:1 to the U.S. dollar, enabling daily earnings dividends in token form.

Currently, approximately 92% of the fund's assets are deployed on the Ethereum network. Furthermore, to expand its business and enhance efficiency, BlackRock has extended BUIDL's deployment to seven other blockchain networks, including Solana, Aptos, Arbitrum, Avalanche, Optimism, and Polygon.