As of March 2025, BlackRock’s USD Institutional Digital Liquidity Fund, referenced on-chain as BUIDL, has achieved a remarkable milestone of $1 billion in tokenized assets, according to recent data.
On March 13, the fund issued more than $206 million in new tokens, reflecting the ongoing influx of liquidity into the fund.
Despite a downturn in Bitcoin and the wider cryptocurrency market over the past month, BUIDL has been on an upward trajectory. This growth signifies a 56% rise over just 30 days, showcasing an increasing level of institutional trust in tokenized real-world assets (RWAs).
Introduced in March 2024 through a digital issuance platform, BlackRock’s BUIDL fund focuses on investing primarily in U.S. Treasury securities and bank deposits in USD. Aimed at qualified purchasers in the U.S., BUIDL offers token holders an annual percentage yield (APY) of around 4.5%, with management fees ranging between 0.20% and 0.50%.
The fund currently boasts 61 holders, marking a 19.6% increase in the last month, demonstrating solid investor interest despite recent volatility in the broader digital asset space. Although the number of monthly active addresses has decreased slightly to 19, the total monthly transfer volume has surged to over $269 million, indicating significant institutional activity in token transactions.
Ethereum continues to serve as the primary blockchain for the fund, managing approximately 825 million tokens across two main contracts. Additional allocations can be found on networks such as Avalanche, Aptos, Polygon, Optimism, and Arbitrum, as part of BlackRock’s multi-chain strategy for asset distribution. Ethereum’s dominance is further emphasized by around $267 million in combined token value from its two largest holders, showcasing the ongoing preference for Ethereum-based tokenization among institutional investors.
Industry-wide, the tokenization of RWAs has escalated, with global on-chain RWAs reaching $18.34 billion, reflecting an increase of over 18% within the last 30 days. The rapid asset growth of BUIDL aligns with broader market movements as institutions increasingly adopt blockchain-related instruments to enhance liquidity and yield, leveraging blockchain efficiencies to improve traditional treasury management.
The strides made by the BUIDL fund underscore a significant threshold, while the growing institutional embrace of on-chain U.S. Treasuries and other tokenized financial products indicates a deepening acceptance of blockchain as a credible infrastructure for conventional asset classes.
Achieving $1 billion in on-chain assets solidly positions BlackRock’s BUIDL fund among the leading institutional initiatives in the blockchain space.
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