Blackrock’s USD institutional digital liquidity fund, also known as buidl, Has attracted Over $ 1 billion in assets under management (AUM) within a year after its debut, according to information from RWA.XYZ.
Let’s get real. The money is stupid. What is being done. We have to reload and work together.
Data shows that the Blackrock’s flagship tokened fund saw an access to 56.4% of the availability of 30 days and crossed $ 1 billion. The holders increased by almost 20% to 61. Ethereum holds the largest proportion of $ 825.4 million, with the rest distributed over several networks such as Avalanche, Polygon, Aptos, Optimism and Arbitrum.
A billion means nothing
Several reports confirmed that the Crypto Protocol Ethena Labs, creator of USDTB Stablecoin, recently allocated $ 200 million to the Buidl Fund. The large allocation was the key factor that operated the Fund’s total assets over the $ 1 billion brand.
Arkham Intelligence data shows that $ 200 million in the Buidl tokens was coined on Thursday evening.
In December last year, Ethena USDTB, a Stablecoin launched to supplement its existing Stablecoin, USDE. USDTB is mainly supported by Blackrock’s Buidl tokens and has over 90% of its reserves in Buidl with additional support from Stablecoins such as USDC and USDT.
The USDTB is designed to maintain a stable price of $ 1 per symbol and acts in a similar way to traditional Stablecoins as USDC and USDT.
Buidl was launched in March last year in collaboration with Securitize and has quickly joined the Top Tokenized Fund Tracking On-Chain Treasuries. Buidl is designed for qualified institutional investors and offers them exposure to US dollar returns on the chain.
In addition to Ethena, Ondo Finance also uses BUIDL in its financial offers. Ondo Finance has issued his money market fund with the support of Buidl, which accounts for a large part of Buidl’s balance.
Tokenized state securities exceed $ 4.4 billion
Buidl’s rapid ascent to more than $ 1 billion in assets is an important driving force in the tokenized tax market, which has now exceeded $ 4.4 billion, which has been traced by RWA.XYZ. Other competitors from Franklin Templeton, Ondo Finance and Superstate also play an important role in the growth of the sector.
Franklin Templeton’s Franklin Onchain US Government Money Fund (FOBXX) reported a 16% increase in total asset value over the past 30 days.
Franklin’s phobxxx was previously one of the largest tokenized funds, but with increased competition from large units such as Blackrock’s Buidl, it is now ranked as the third largest tokenized money market fund, with a market value of about $ 689 million.
Hashnotes USYC Fund, which currently holds $ 868 million in assets, is the second largest tokenized US Treasury. Unlike BuidL and FobxXX, the Fund’s asset value reduced by 24.35% over the past month.
Ondo Finance Usdy is also another important player within the tokenized Treasury. Its market value increased 53% over the past 30 days and exceeds $ 592 million. This places it behind Buidl, USYC and Fobxxx.
Securitize has collaborated with Redstone, a Defi-focused Oracle provider, to improve the use of the Defi. Redstone will deliver price flows for BuidL, which enables integration into money market exchanges and collateral for defi.
Blackrock CEO Larry Fink has expressed support for the tokenization of bonds and shares. He noted its potential to democratize investment by making financial assets more accessible to a wide range of individuals.
Leading Crypto Company Coinbase revives its plans to tokenize its own warehouse ($ coin) and other securities in the US market. This initiative was only proposed in 2020 but was stopped due to regulatory obstacles.
The formation of a new crypto working group of SEC and changes in regulatory attitudes during the Trump administration has encouraged Coinbase to re -enter with tokenized securities.
These securities offer benefits such as improved liquidity, increased transaction efficiency and improved transparency and security. They can give investors voting rights and profit sharing mechanisms, similar to traditional securities but with the extra efficiency for blockchain technology.
