cryptonews.net
BlackRock BUIDL (BlackRock USD Institutional Digital Liquidity) has once again made headlines for its massive stablecoin accumulation. On-chain analytics have revealed that the tokenized fund of a leading asset manager has raised $11 million in USDC from stablecoin giant Circle. The accumulation has caused a flurry of discussion in the broader market, with the BUIDL fund’s assets valued at over $88 million at the time of writing.
According to data released by Arkham Intelligence, BlackRock BUIDL fund address “0×13e” received $11 million in USDC from Circle hot wallet 0×55F. This transaction brings the address’ total USDC holdings to $88.16 million. The address’ other holdings included MOG, COLLE, and Shiba Inu, among many others coins. However, the lion’s share belonged to the USDC stablecoin, as the total value of assets held at the address was capped at $88.33 million.
The fund’s accumulation of USDC appears to be in line with Circle’s facilitation of providing seamless tokenization services for BUIDL investors. Additionally, the latest data from Dune analytics showed that BUIDL holders have increased sharply in recent days. The total number of holders stood at 19 at the time of writing, while the USDC fund being redeemed is valued at $77.40 million.
Image: VOI