- Blackrock's tokenized US Treasury fund BUIDL surpasses $500 million in market cap.
- The whole marketplace for US Treasury tokenized merchandise has grown to $1.8 billion, signaling development in RWA.
Blackrock's tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund, has seen vital development in its first 4 months since its launch, as its market capitalization exceeded $500 million, making it the primary tokenized product of the US Treasury Division to succeed in such a milestone.
This improvement comes on the again of tokenized fund development throughout the board, as the full tokenized US Treasury market stands at $1.8 billion. At $500 million, Blackrock instructions 27% of that market, and far of that dominance is on the backs of different protocols like Ondo, which use BUIDL to energy their revenue-bearing merchandise.
RWA continues to develop
Based on knowledge supplier, rwa.xyz, the on-chain securities market has doubled to $1.8 billion this yr as institutional buyers search US bonds as low-risk investments.
Nonetheless, RWA's hottest asset stays tokenized privatized credit score, with $12 billion in whole loans coming from all protocols, with the lion's share coming from protocols like Determine ($8.3 billion), Maple ($1.9 billion), and TrueFi ($1. 7 billion USD).
A lot of the RWA market nonetheless resides on the Ethereum community.
Blackrock is in good firm
Blackrock just isn’t the one firm with a tokenized fund. US-based asset supervisor Franklin Templeton is providing a tokenized US Treasury fund with a market cap of round $400 million. Hashnote additionally runs a fund with a market cap of $118.86 million. Different protocols embody Ondo, Maple, TrueFi, Superstate and Open Eden, all of which have seen vital development this yr.
