BlackRock’s BUIDL Fund: The New King of Tokenized Treasuries
TLDR
The BlackRock USD Institutional Digital Liquidity (BUIDL) fund has paid out almost $1.7 million in Ethereum monthly dividends to its owners, a 38 percent increase compared to last month. Ondo Finance's crypto wallet, labeled “OUSD Instant Manager,” received the largest share of the dividend, earning 42 percent of the total pot. The total value of all tokenized treasury product tokens in the crypto ecosystem currently stands at $1.45 billion, with BlackRock's BUIDL fund accounting for about a third of this value. BlackRock's BUIDL fund became the largest cryptocurrency fund in April 2024, just six weeks after Franklin Templeton's BENJI debuted. The rapid growth of BlackRock's token offering reflects growing interest in tokenizing real-world assets, particularly US Treasuries, as a low-risk, stable commodity investment option.
BlackRock, the world's largest asset management firm, is making significant inroads into the tokenized treasury market with its USD Institutional Digital Liquidity (BUIDL) fund.
In the year Launched on the Ethereum blockchain in March 2024, the fund has seen impressive growth and recently paid out nearly $1.7 million in monthly dividends to its shareholders, a 38% increase from the previous month.
A seven-figure payment was distributed in one transaction on the Ethereum network, 11 wallet addresses received an average of 151,735 BUIDL tokens.
Today the @BlackRock USD Institutional Digital Liquidity Fund (BUIDL) paid $1.7 million in monthly dividends for its holdings on the @ethereum blockchain.
BUIDL is the largest tokenized fund offering USD yield to holders.
Securitize is proud to… pic.twitter.com/PomFcRSEL4
— Securitize (@Securitize) June 3, 2024
Ondo Finance's crypto wallet, labeled the “OUSD Instant Manager”, was the biggest recipient and received about 42% of the total dividend pot.
Ondo Finance, a tokenized real-world values (RWA) platform, currently holds 49,999,999 BUIDL tokens, making it the fourth largest holder of the fund.
The rapid growth of BlackRock's BUIDL fund reflects growing interest in tokenizing real-world assets, particularly US Treasuries. Tokenized treasuries offer investors a low-risk, stable commodity investment option without leaving the blockchain ecosystem.
Within six weeks of its debut, the BUIDL Fund surpassed Franklin Templeton's BENJI to become the largest guaranteed Treasury fund in April 2024.
The total value of all tokenized treasury product tokens in the crypto ecosystem currently stands at $1.45 billion, up more than 12.5% since early May. BlackRock's BUIDL fund accounts for about a third of this value, with a market cap of $462.5 million.
According to rwa xyz, the market value of tokenized treasury bonds rose from $719 million to $1.44 billion at the beginning of this year, including BUIDL, FOBXX, OUSG, USDY and USTB. Launched at the end of March this year, BlackRock's tokenized fund BUIDL has…
— Wu Blockchain (@WuBlockchain) June 4, 2024
BlackRock's activity in on-chain and governance platforms reflects its growing institutional presence in the crypto ecosystem, from interest to active participation.
Asset management giant Bitcoin ETF, IBIT, is also performing well, with net income and total volume of $2.05 billion.
