BlackRock's BUIDL Fund Surges 183.97% in 30 Days, Reaches $1.92 Billion

BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has rapidly expanded its assets under management to $1.92 billion, marking an 183.97% increase in market cap over the past 30 days. This growth has positioned BUIDL as the sixth-largest dollar-linked digital asset by market capitalization, trailing only four stablecoins: First Digital USD, Ethena’s USDtb, Tether Gold (XAUT), and USDD. The fund, launched in March 2024 and administered via the Securitize protocol, invests in U.S. Treasuries and operates under a Reg D exemption, offering a 4.5% annual yield and a $1 net asset value.

The BUIDL fund's success can be attributed to institutional flows and the increasing adoption of tokenized money market strategies. It spans multiple blockchain networks, including Ethereum, Avalanche, Polygon, Arbitrum, Optimism, and Aptos, with over 90% of its supply on Ethereum. Among tokenized U.S. Treasury RWA funds, BUIDL is the largest by a significant margin, nearly tripling the size of Franklin Templeton’s BENJI and Paxos Gold (PAXG).

This rapid growth underscores the accelerating demand for regulated, yield-generating instruments on-chain. The BUIDL fund's performance positions it as a benchmark for treasury-backed RWAs integrated into public blockchain ecosystems. The fund's ability to attract significant capital in a competitive landscape dominated by stablecoins highlights the potential of tokenized assets to deliver substantial returns and attract institutional investors.

The BUIDL fund's success reflects a broader trend of institutional investors embracing digital assets as a viable investment option. As more institutional investors enter the market, the demand for tokenized assets is likely to continue growing, driving further innovation and development in the digital asset space. The BUIDL fund's performance serves as a reminder that the digital asset market is not limited to cryptocurrencies but also includes a wide range of tokenized assets that offer unique investment opportunities.