BlackRock’s Tokenized Fund Market Value Exceeds $500 Million

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BlackRock’s BUIDL Fund, which was launched on the Ethereum network in March, has surpassed $500 million in market value, making it the highest-valued tokenized treasury fund in the world.

It has overtaken Franklin Templeton’s blockchain-based mutual fund, with $502.8 million in BUIDL tokens currently held, according to data from Etherscan and its issuer, Securitize Markets.

CEO Carlos Domingo of Securitize expressed excitement about the widespread adoption and growth of BUIDL, which aims to be a foundational layer for institutional crypto yields.

In comparison, the second-largest tokenized fund, Franklin OnChain US Government Money Fund, has a market value roughly $100 million lower. Ondo Finance’s USD Yield fund (USDY) holds approximately $281 million in tokenized assets.