BlackRock Tokenized Fund ‘BUIDL’ Nears $3 Billion [Crypto Briefing]

[Financial News] The world’s largest asset manager, BlackRock, has seen its tokenized money market fund (MMF), the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), surge by 35% in just one month, with total assets now approaching $3 billion. BUIDL maintains its leading position in the tokenized U.S. Treasury market with a 33% market share, further solidifying BlackRock’s dominance in the digital asset sector.
According to RWA.xyz, a real-world asset tokenization analytics platform, BlackRock’s BUIDL currently has total assets under management of $2.85225 billion (approximately 4.1 trillion KRW), reflecting a 35.68% increase from the previous month.
On the 24th, BUIDL drew attention by making a single $500 million deposit on the Polygon Network. Industry observers expect BlackRock to actively expand its ecosystem beyond the existing Ethereum network to other blockchains such as Polygon and Solana. Experts believe BlackRock’s multi-chain expansion strategy will further accelerate the growth of the tokenized asset market. Larry Fink, BlackRock’s CEO, recently stated during an earnings conference call that “tokenization will define the next era of finance,” outlining the company’s strategy to lead the tokenization market.
BUIDL is a product that tokenizes shares of an MMF investing in safe assets such as U.S. Treasuries and repurchase agreements (RPs). Investors holding BUIDL tokens become shareholders of the BlackRock fund and receive daily returns in the form of newly issued BUIDL tokens. Im Minsu, a researcher at Hashed Open Research (HOR), noted, “BUIDL is symbolic of a major traditional financial institution’s full-scale entry into the RWA market.” He also explained, “Benji, the on-chain MMF registered with the U.S. Securities and Exchange Commission (SEC) by Franklin Templeton, has a structure very similar to BUIDL.”
Although competitors such as Benji have entered the market since BUIDL’s launch, BUIDL’s competitive edge is expected to persist for the time being. According to analysis by the Korbit Research Center, the tokenized U.S. Treasury market grew by about 9.6% in the third and fourth quarters of this year, reaching $7.9 billion and showing steady growth. By issuer, BUIDL accounts for 33% of the market, maintaining its top position, while Franklin Templeton’s Benji holds 9% (third place). Donghyun Kang, a researcher at the Korbit Research Center, stated, “BUIDL and the Ethereum network continued to hold high market shares in the tokenized Treasury market, demonstrating stable growth.”
As a result, Ethereum is further solidifying its position as the core network for the tokenized Treasury market, according to Kang’s analysis. He emphasized, “Ethereum accounts for about 70% of major issuance blockchains, maintaining its position as the central network for tokenized Treasuries. This is interpreted as institutional investors’ preference for Ethereum due to its long-term proven stability.”

elikim@fnnews.com Kim Mi-hee Reporter