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BlackRock's BUIDL Fund Surpasses $500M AUM

The tokenized mega fund is only getting larger.
Jack Inabinet Jack Inabinet Jul 9, 20241 min read
BlackRock's BUIDL Fund Surpasses $500M AUM

The BlackRock USD Institutional Digital Liquidity (BUIDL) Fund, a tokenized money market on Ethereum from the world’s largest asset manager, is halfway to $1B in assets under management!

What’s the Scoop?

  • Leading RWA: BUIDL’s assets under management flipped those of the leading competitive product, Franklin Templeton’s FOXBB, the month after it launched in April of this year. Since then, the Fund has grown to become crypto’s second largest tokenized real world asset, behind only Tether’s XAUT gold product.
  • DeFi Integrations: More so than any other tokenized treasury product on the market, BUILD stands out due to widespread integrations in crypto finance. Yield bearing asset issuers Mountain Protocol and Ondo Finance hold a combined $240M in BUIDL, meanwhile, the token is accepted as trading collateral on multiple prime brokerages.

Bankless Take:

The broader tokenized US Treasuries sector has steadily grown throughout the past three months, but remains a mere rounding error compared to the estimated $27T in outstanding US Treasury securities.

While BlackRock has yet to recommend existing customers move onchain despite experimentation with tokenization, its world-renowned reputation has clearly compelled crypto natives to custody BUIDL.

Jack Inabinet

Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business and remains based out of the Seattle area.

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