BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has reached $1.92 billion in belongings underneath administration lower than a month after breaking $1 billion.
The explosive progress locations it forward of all however 4 stablecoins amongst tokenized RWAs, based on knowledge from rwa.xyz.
The fund, launched in March 2024 and administered by way of the Securitize protocol, invests in U.S. Treasuries and operates underneath a Reg D exemption.
It has recorded a 183.97% enhance in market cap over the previous 30 days, pushed by institutional flows and growing adoption of tokenized cash market methods.
BUIDL now ranks sixth amongst dollar-linked digital belongings by market capitalization, simply behind First Digital USD and forward of belongings comparable to Ethena’s USDtb, Tether Gold (XAUT), and USDD.
With a $1 web asset worth and 4.5% annual yield, BUIDL capabilities like conventional cash market funds whereas leveraging blockchain rails for programmable liquidity.
The fund spans Ethereum, Avalanche, Polygon, Arbitrum, Optimism, and Aptos, with over 90% of its provide on Ethereum.
Amongst tokenized U.S. Treasury RWA funds, BUIDL is the biggest by a big margin, practically tripling the dimensions of Franklin Templeton’s BENJI and Paxos Gold (PAXG). Solely Tether’s USDT, Circle’s USDC, MakerDAO’s USDS, and Binance-Peg USD preserve bigger market caps within the broader digital greenback class.
Institutional demand for regulated, yield-generating devices on-chain seems to be accelerating, positioning BUIDL as a benchmark for treasury-backed RWAs built-in into public blockchain ecosystems.
