TLDR
BlackRock’s BUIDL Fund, a tokenized USD Institutional Digital Liquidity Fund, has witnessed a rapid $600 million surge in assets under management (AUM) within just two weeks. The majority of this growth is attributed to Ethereum, signaling strong demand for tokenized institutional assets. The fund, launched by the world’s largest asset manager, now manages over $2.49 billion in total market cap, with Ethereum accounting for a significant portion.
According to crypto analytics firm Token Terminal, the fund’s growth highlights the increasing appeal of digital asset funds for institutional investors. In addition to Ethereum, the BUIDL Fund is now issued on seven blockchains, including Solana, Aptos, Arbitrum, Avalanche, Optimism, Polygon, and Ethereum. This multi-chain approach has helped drive broader interest in the fund, making it one of the most diversified tokenized assets on the market.
The BUIDL Fund’s recent growth has been driven by BlackRock’s active push to expand its tokenized assets across multiple blockchain networks. Ethereum remains the anchor blockchain, but the fund has increasingly diversified into other leading blockchains, such as Aptos, Arbitrum, and Solana. The goal is to increase liquidity and provide exposure to a broader range of assets while maintaining the fund’s stability.
To achieve this, BlackRock has partnered with Securitize, a leading tokenization platform that serves as the issuer, placement agent, and transfer agent for the BUIDL Fund.
This collaboration also included the integration of Ripple’s stablecoin in September 2025 to enhance liquidity, further boosting the fund’s growth potential. As a result, the BUIDL Fund has become an attractive option for institutional investors seeking diversified exposure to the rapidly growing digital asset sector.
Ethereum continues to be a dominant force in BlackRock’s tokenized asset strategy, with the blockchain accounting for the majority of the BUIDL Fund’s assets. Over $5.3 billion in market cap has been built on Ethereum alone, making it the top blockchain in BlackRock’s portfolio.
The surge in Ethereum-based investments comes at a time when institutional demand for digital assets has reached new heights, especially as Ethereum continues to solidify its position as the backbone of decentralized finance (DeFi) and smart contracts.
Ethereum’s role as the leading blockchain for smart contracts and decentralized applications (dApps) makes it an appealing choice for institutions looking to access innovative financial products. BlackRock’s decision to allocate a significant portion of the BUIDL Fund to Ethereum further underscores the importance of the blockchain in shaping the future of institutional digital assets.
The broader trend of tokenized treasury funds is also contributing to the growth of BlackRock’s BUIDL Fund. Tokenized treasuries, such as the USD Institutional Digital Liquidity Fund, offer traditional institutional investors a way to gain exposure to digital assets while still maintaining the security and reliability of regulated financial products.
This convergence of traditional finance and decentralized finance is pushing the crypto market to new levels of legitimacy and institutional adoption.
Recent reports show that tokenized U.S. Treasury funds, including the BUIDL Fund, have seen a significant uptick in investments. The market for tokenized treasuries now exceeds $7.65 billion in total value, with BlackRock’s BUIDL Fund leading the charge with $391 million in new inflows. This trend reflects growing investor confidence in digital asset-backed products and the continued demand for regulated access to blockchain-based funds.
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