BlackRock’s BUIDL fund inches toward $500 million amid crypto market struggles
Summary
BlackRock's BUIDL fund, represented by the BUIDL token on Ethereum, holds $491 million in assets. It invests in cash, US Treasury bills, and repurchase agreements, attracting new investors despite market struggles. The fund requires a $5 million minimum entry and has captured nearly 30% of the market since its March launch. However, 16 wallets hold its tokens, with 75% concentrated among the top 5 holders. Ondo Finance owns about 44.8% of the fund. Institutional interest in tokenizing real-world assets is growing, with 50% of institutional investors interested in tokenized assets for portfolio diversification and greater liquidity. Over $1.5 billion worth of US Treasuries now exist on blockchain networks like Ethereum, Polygon, and Solana.
