BlackRock’s BUIDL Token Surpasses $500 Million Market Value

Global asset manager BlackRock’s BUIDL token, developed in collaboration with Securitize and asset-backed by U.S. Treasuries, has achieved a significant milestone by surpassing a market value of over $500 million as per Ethereum blockchain data from Etherscan.

Rapid Growth and Industry Impact

Launched in March, the BUIDL token has become the first tokenized treasury product to reach this milestone within just four months. Its growth has been accelerated by DeFi protocols like Ondo Finance and Mountain Protocol, which utilize BUIDL as a backing asset for their yield-products. Furthermore, digital asset brokers such as FalconX and Hidden Road have integrated the token into their collateral assets for institutional investors.

Tokenization of Real-World Assets

BlackRock’s tokenized treasury product represents a trend in the tokenization of real-world assets, with a focus on U.S. Treasuries. This movement aims to enhance operational efficiencies and speed up settlements by bringing traditional instruments like government bonds onto blockchain platforms.

Market Expansion and Adoption

The tokenized treasury market, including BUIDL, has more than doubled in size this year, growing from $780 million in January to $1.8 billion as of June 7, according to data from rwa.xyz. BlackRock’s offering leads the market with a 27% share, followed by Franklin Templeton, Hashnote, and OpenEden, which have also experienced substantial growth in their tokenized products.