BlackRock’s BUIDL fund will be its first $500M token fund.
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BlackRock's BUIDL fund is the first treasury fund to reach $500 million in market capitalization. Ethereum dominates the tokenized treasury market with a share of more than 75%.
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BlackRock's US Dollar Institutional Digital Liquidity Fund (BUIDL) has a market cap of $500 million, according to data from Dune Analytics. The development made BUIDL the first token fund to reach the $500 million milestone.
As of July 8, BUIDL has attracted about $502 million in deposits. The latest breakthrough comes as Ondo Finance increases its holdings in BUIDL, according to Eterscan data.
According to Crypto Briefing, Ondo's OUSG is the largest holder with $173.7 million, followed by Mountain Protocol.
Meanwhile, Franklin Templeton's Franklin OnChain US Treasury Fund, represented by the BENJI token, held approximately $402 in deposits.
BlackRock's BUIDL continues to dominate the tokenized government securities market. Launched in late March this year, the fund surpassed Franklin's FOBXX to become the world's largest tokenized treasury fund within six weeks.
According to data from Dune Analytics, the total market for tokenized cryptocurrencies is now at $1.67 billion, with Ethereum leading the way.
The real world asset (RWA) market is booming. According to data aggregator Artemis, RWA tokens grew by an average of 28% in the second quarter, outperforming other crypto sectors. Notable names include Ondo (Ondo), Mantra (OM), Clearpool (CPOOL) and Maple (MPL).
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