BlackRock's BUIDL Fund Tops $500M as Tokenized Treasury Market Soars
Summary
BlackRock's BUIDL token, backed by U.S. Treasuries and issued in partnership with Securitize, has exceeded a $500 million market value on the Ethereum blockchain. It's the first tokenized treasury product to achieve this milestone in just four months since its launch. The token's growth has been driven by its use as a backing asset for DeFi protocols and as collateral for institutional investor clients. The overall tokenized treasury market, including BUIDL, has doubled this year to $1.8 billion, with BlackRock's offering claiming roughly 27% market share.
