BlackRock's BUIDL Fund Tops $500M as Tokenized Treasury Market Soars

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Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

Global asset manager BlackRock's BUIDL token, issued in partnership Securitize and backed by U.S. Treasuries, has surpassed $500 million market value on Monday, Ethereum blockchain data byThe growth for BlackRock's tokenized product has been fueled by other decentralized finance protocols such as Ondo Finance andusing BUIDL as a backing asset for their own yield-products.

"BUIDL continues to become the base tokenized asset for many other innovative RWA products to be built on," Carlos Domingo, CEO of Securitize, told CoinDesk in an email. U.S. Treasuries are at the forefront of tokenization of real-world asset, as digital asset firms and global financial heavyweights race to put traditional instruments such as government bonds, private credit and funds on blockchain rails, aiming to achieve faster settlements and operational efficiencies.

The overall tokenized treasury market, including BUIDL, has more than doubled this year, growing to $1.8 billion as of June 7 from $780 million in January, according to data provider BlackRock's offering is leading among the tokenized products, claiming roughly 27% market share. Some major players also enjoyed significant inflows over the past month, rwa.xyz shows. Franklin Templeton's offering welled 16% to $400 million, while Hashnote's and OpenEden's product grew 40% and 89%, respectively.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.

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