Press releases or financial disclosures from BlackRock

BlackRock's BUIDL Fund Tops $375M AUM in 40 Days, Nears $400M Market Cap

Apr 30, 2024, 05:40 PM

BlackRock's first tokenized fund, BUIDL, has rapidly become the largest tokenized treasury fund, surpassing $375 million in assets under management (AUM) and nearing a $400 million market cap. Launched on March 20 as a private short-term treasury fund, BUIDL attracted nearly $300 million in assets shortly after its introduction and achieved this growth within just 40 days. The fund's growth was significantly boosted by a $50 million inflow last week, primarily from Ondo Finance's tokenized Treasury offering, OUSG, which uses BlackRock's token as a reserve asset. This milestone marks BUIDL as the fastest-growing tokenized fund, overtaking Franklin Templeton's rival offering and becoming the largest of its kind in the market.