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The tokenized money market fund of BlackRock (BUIDL) has reached a capitalization of 1.7 billion dollars, establishing itself as a leader in tokenized U.S. Treasuries.
Recently, the fund has expanded to the Solana blockchain, further broadening its reach and adapting to the growing demand for digitized assets.
Summary
Exponential Growth and Market Dominance of BlackRock BUIDL
The BlackRock USD Institutional Digital Liquidity Fund (BUIDL) was launched in March 2024 in collaboration with Securitize, with the aim of making offchain assets more accessible and dynamic.
According to the data from rwa.xyz, BUIDL leads the tokenized U.S. Treasuries market, reaching a market share of 34%.
Since its debut, the fund has recorded significant growth. By July 2024, the market capitalization had already reached 500 million dollars.
In less than a year, BUIDL has seen an increase of 240%, bringing it to 1.7 billion dollars. This expansion demonstrates a growing institutional interest in digital financial instruments based on blockchain.
Another distinctive element is the payment of dividends. The fund, anchored to the US dollar, distributes accumulated daily dividends to investors on a monthly basis.
Starting from August 2024, investors have received a total of 7 million dollars in dividends, strengthening the appeal of BUIDL in the digital financial landscape.
In March 2025, Carlos Domingo, CEO of Securitize, announced the expansion of BUIDL to the Solana blockchain. This decision marks an important step in adapting the fund to new blockchain ecosystems, increasing scalability and accessibility for investors.
The move on Solana comes after a growth path in the multichain sector. On November 13, 2024, the fund initially based on Ethereum was also made available on Aptos, Arbitrum, Avalanche, Optimism, and Polygon.
These integrations aim to attract a broader and more diversified investor base. Despite the expansion across different blockchains, Ethereum maintains a dominant role in the tokenized Treasury ecosystem.
According to the data from RWA.xyz, products based on Ethereum hold a capitalization of 3.6 billion dollars, equal to 72% of the entire market. This predominance highlights how the network remains the preferred platform for the tokenization of traditional financial assets.
The role of BlackRock in digital finance
The case of BUIDL shows the increasingly marked interest from large financial institutions like BlackRock in the adoption of real-world asset (RWA) tokenization.
This approach reduces the complexity of traditional markets and increases the liquidity of financial assets, making them accessible to a wider audience.
The integration with Securitize and the adoption of multichain strategies confirm that BlackRock is exploring new ways to modernize the global financial system.
Approaching the market of tokenized money funds, the company experiments with a new way of managing capital, embracing more flexible and transparent instruments.
The rapid rise of BUIDL in the financial landscape suggests a growing trend towards the digitalization of traditional assets.
The integration with multiple blockchains could lead to greater interoperability between traditional and decentralized financial markets, offering new opportunities for institutional and private investors.
However, challenges are not lacking. The regulation of tokenized financial products remains a crucial issue.
Regulatory bodies could adopt more specific regulations to ensure transparency, security, and investor protection in this constantly evolving sector.
Furthermore, it will be interesting to observe how other institutions will follow this trend, introducing tokenized financial products on multiple blockchains to expand the market and attract new investors.
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Conclusions
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The expansion of BUIDL by BlackRock and Securitize represents a breakthrough in the tokenized Treasury market. With a capitalization of 1.7 billion dollars and a growth of 240% since July 2024, the fund establishes itself as a leader in the sector.
The integration with Solana’s blockchain marks another step towards innovation and the spread of financial instruments based on digitized assets.
In the broader context, Ethereum’s dominance with 72% of the market capitalization demonstrates the network’s centrality in the tokenization of financial assets.
Looking to the future, tokenized Tesla and digitalized money funds could become an integral part of traditional financial systems, with BlackRock and other giants of the sector ready to lead their evolution.