Ondo Finance Joins BlackRock Tokenized Fund As Inflows Surpass $160M
BlackRock's BUIDL tokenized money-market fund has attracted over $160 million in a week. The fund primarily invests in cash, US Treasury bills, and repurchase agreements, rewarding holders with BUIDL tokens valued at $1 each. It serves as collateral, treasury management for crypto companies, and support for derivatives of Treasury bills. Securitize Markets facilitates token transfers. BlackRock's iShares Bitcoin Trust has attracted over $13 billion since its launch. Ondo Finance has transferred $95 million in assets to the BUIDL fund, becoming a major participant in the ecosystem. This collaboration strengthens the tokenized US Treasury market, with potential value reaching $1 billion. Ondo Finance's native token, ONDO, is trading at $0.909, showing a 4% surge in the past 24 hours and a 115% increase over the past 30 days.
