A tokenized money market fund from BlackRock, known as BUIDL, has been launched on the Solana blockchain, as reported by Securitize, emphasizing the asset manager’s ongoing commitment to blockchain finance.
This growth now positions BUIDL across seven different blockchains, including Ethereum, Polygon, Aptos, Arbitrum, and Optimism. Currently, only 62 wallets contain BUIDL tokens on-chain, as per available data.
Officially titled the BlackRock USD Institutional Digital Liquidity Fund, this vehicle integrates a short-term portfolio of cash and U.S. Treasuries while leveraging blockchain for settlement and transfer. Since its inception on Ethereum in 2023, BUIDL has attracted $1.7 billion in investments, with projections indicating it will surpass $2 billion by early April, according to Securitize.
“In the past year since BUIDL’s introduction, we have seen remarkable growth in demand for tokenized real-world assets, highlighting the importance of making institutional-grade products accessible on the blockchain,” stated Carlos Domingo, co-founder and CEO of Securitize. “As the market for RWAs and tokenized treasuries evolves, bringing BUIDL to Solana—a platform recognized for its speed, scalability, and cost-effectiveness—is a logical progression.”
Typically, money market funds enable investors to earn interest on excess cash but have trading restrictions, such as limited operational hours. In contrast, blockchain-based alternatives like BUIDL provide continuous access.
BlackRock is not the only player in this space. Franklin Templeton has launched a comparable tokenized fund, currently boasting a market capitalization of $692 billion and 558 holders. Additionally, Figure Markets has recently introduced YLDS, an interest-earning stablecoin. Other prominent tokenized treasury funds include the Hashnote Short Duration Yield Coin (USYC) and Ondo U.S. Dollar Yield.
The tokenized Treasury market has emerged as one of the fastest-growing areas within tokenized assets, expanding nearly sixfold over the past year and surpassing $5 billion in market capitalization, according to the latest data.