BlackRock’s BUIDL Fund Surpasses $1 Billion in Assets
BlackRock’s tokenized U.S.Treasury fund, BUIDL, has crossed the $1 billion mark in assets under management. This growth was fueled by a $200 million investment from Ethena on March 13. According to RWA.xyz, BUIDL’s assets have surged 57% in the past month.
BUIDL, launched in collaboration with Securitize, offers exposure to cash, repurchase agreements, and U.S. Treasuries.Initially built on Ethereum, it now operates on multiple blockchains like Aptos, Arbitrum, Avalanche, and Optimism via the wormhole bridge. Custodians such as anchorage Digital, bitgo, and Fireblocks manage its tokenized assets, while BNY Mellon oversees cash and securities.
Ethena’s usdtb stablecoin, backed by BUIDL, has seen rapid growth.Unlike conventional stablecoins, USDtb generates yield, attracting investors seeking passive income. Ondo Finance’s OUSG and USDY products have also surged 53% in value, nearing $1 billion.
Major prime brokers like FalconX now accept tokenized Treasuries as collateral.This trend reflects growing institutional trust in blockchain-based financial products. The total tokenized Treasury market reached $4.4 billion as of March 14, expanding fourfold in the last year.
Analysts believe investors are shifting from non-yielding stablecoins to direct Treasury exposure for better yields. The average yield currently stands at 4.28%, making tokenized Treasuries an attractive option.
