BlackRock $1.9B BUIDL fund's 183% growth puts it behind just four stablecoins in tokenized dollar assets

BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has grown to $1.92 billion in assets under management, reflecting a 183.97% increase in market cap over the past 30 days. Launched in March 2024 and built on the Securitize protocol, BUIDL invests in U.S. Treasuries and operates under a Reg D exemption, offering a 4.5% annual yield with a $1 net asset value. It ranks sixth among dollar-linked digital assets, surpassing Ethena’s USDtb and Paxos Gold (PAXG), but trailing Tether’s USDT, Circle’s USDC, MakerDAO’s USDS, and Binance-Peg USD. Operating across multiple blockchains (primarily Ethereum), BUIDL is the largest tokenized U.S. Treasury RWA fund, far ahead of competitors like Franklin Templeton’s BENJI. Its rapid growth highlights rising institutional demand for regulated, yield-generating digital assets on public blockchains. Show Less