Global investment management firm BlackRock’s BUIDL token, created in collaboration with Securitize and supported by U.S. Treasuries, surpassed the $1 billion mark in assets on Thursday, according to Securitize.
The increase in the fund’s size came from a $200 million investment made this afternoon by the crypto protocol Ethena, as reported by a Securitize representative. Data from the Ethereum blockchain, provided by Arkham Intelligence, indicates that an entity minted $200 million worth of BUIDL tokens at 18:47 UTC on Thursday.
Tokens associated with U.S. Treasuries are leading the charge in tokenization initiatives, as digital asset companies and major global financial institutions compete to transition traditional financial products—like bonds, private credit, and funds—onto blockchain platforms to facilitate quicker settlements and improved operational efficiencies.
BUIDL acts as a foundational component for various yield-generating products and is increasingly being utilized as collateral on trading exchanges. It serves as a vital reserve asset for Ethena’s yield-bearing USDtb token, which currently has a supply of $540 million. The value of USDtb is supported by stablecoins USDC and USDT, alongside approximately $320 million worth of BUIDL tokens.
“Ethena’s choice to increase USDtb’s investment in BUIDL demonstrates our strong belief in the potential of tokenized assets and their crucial role in the evolving landscape of modern financial systems,” stated Guy Young, founder of Ethena.
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