BlackRock is broadening its money market fund’s reach by integrating with the Solana network, thereby extending its availability to seven different blockchain networks.
Securitize, a platform specializing in tokenizing real-world assets and collaborating with BlackRock, Apollo, and Hamilton Lane, shared the news of this integration with Solana (SOL) on Tuesday, March 25, 2025.
This development means that the BlackRock USD Institutional Digital Liquidity Fund, known as BUIDL, is now accessible on Ethereum, Aptos, Arbitrum, Optimism, Avalanche, Polygon, and Solana. The firm is growing its tokenized treasury fund’s shares on Solana in response to increasing interest in the expanding market for tokenized assets.
Since its launch in March 2024, BUIDL has exceeded $1 billion in assets under management, providing U.S. dollar yields to eligible investors.
The on-chain offering benefits from versatile custody options, currently provided by firms such as Copper, Anchorage Digital, and Fireblocks. Notably, BUIDL allows for daily dividend payments.
Emphasizing speed and affordability
Investors using BlackRock’s money market fund are likely to appreciate Solana’s quick transaction speeds and low costs.
“With the rising market for real-world assets and tokenized treasuries, launching BUIDL on Solana—a blockchain recognized for its rapidity, scalability, and cost-efficiency—is a logical progression,” remarked Carlos Domingo, co-founder and CEO of Securitize.
BUIDL currently commands a market capitalization of $1.7 billion, outpacing the Hashnote Short Duration Yield Coin at $764 million and Franklin Templeton’s On-Chain U.S. Government Money Fund at $792 million. Per data from RWA.xyz, BlackRock’s tokenized fund has noted an impressive $235 million in the last month alone.
The extension of BUIDL to Solana coincides with the asset manager’s efforts to introduce its spot Bitcoin exchange-traded fund in Europe. Launched in January 2024, this fund is now the largest in the world by net assets, surpassing $50 billion, with net inflows nearing $40 billion.