BlackRock Expands Crypto Reach: BUIDL Fund Goes Multi-Chain Across These 5 Blockchainsc
BlackRock expanded its USD Institutional Digital Liquidity Fund (BUIDL) to include Aptos, Arbitrum, Avalanche, Optimism, and Polygon, enhancing interaction with various blockchain ecosystems. Launched on Ethereum in March 2024, BUIDL became the largest tokenized fund globally within 40 days. BNY Mellon will serve as the fund administrator and custodian. BlackRock's Bitcoin ETF, IBIT, surpassed $40 billion in assets under management (AUM) just two weeks after reaching $30 billion, achieving this in a record 211 days. IBIT is now among the top 1% of all ETFs by AUM and has outperformed all ETFs launched in the past decade. Bitcoin ETFs collectively exceeded $90 billion in assets, driven by $1 billion in new inflows and $5 billion in market appreciation. The rise in Bitcoin ETF assets coincided with increased investor confidence following Donald Trump's presidential election victory, contributing to a 24% surge in Bitcoin prices, reaching a record high of $93,000.
