BLK - BlackRock's BUIDL Tokenization Fund Hits $500M In Assets Under Management | Benzinga
BlackRock’s(NYSE:BLK) tokenized fund BUIDL (BlackRock USD Institutional Digital Liquidity Fund) has ammassed more than $500 million in assets under management (AUM) in three months, according to a new report.
What Happened: The research report by Digift shows that as of July 9, 2024, the fund’s AUM reached $502.8 million, held across 17 addresses.
BUIDL, issued on the Ethereum (CRYPTO: ETH) blockchain as an ERC20 token, allows Web3 institutions to access real-world returns without navigating complex on-and-off ramp processes.
BlackRock’s collaboration with key Web3 players such as Securitize, Circle (CRYPTO: USDC), and Ondo Finance (CRYPTO: ONDO) has been instrumental in bringing this project to fruition.
Securitize, acting as a regulator-recognized transfer agent, enables the use of public blockchains as the primary accounting tool ...