BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has reached $1.92 billion in assets beneath administration lower than a month after breaking $1 billion.
The explosive growth locations it forward of all however four stablecoins amongst tokenized RWAs, in response to information from rwa.xyz.
The fund, launched in March 2024 and administered through the Securitize protocol, invests in U.S. Treasuries and operates beneath a Reg D exemption.
It has recorded a 183.97% improve in market cap over the previous 30 days, pushed by institutional flows and rising adoption of tokenized cash market methods.
BUIDL now ranks sixth amongst dollar-linked digital assets by market capitalization, just behind First Digital USD and forward of assets similar to Ethena’s USDtb, Tether Gold (XAUT), and USDD.
With a $1 internet 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, almost 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 keep bigger market caps in the broader digital dollar 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.
