According to Bloomberg report, a significant $160 million was deposited into BlackRock’s tokenized investment fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), during its first week of operation.
Ondo Finance, a tokenized real-world asset platform, highlighted the success of BUIDL by announcing that it would be allocating a sizeable percentage of its OUSG ETF assets to BUIDL. After just a few days of inception, this action added a further $95 million to BUIDL, bringing its total balance to $244.8 million.
BUIDL, which is powered by the Ethereum blockchain using Securitize, focuses on safe investments like cash and U.S. Treasury bills. It gives investors dividends in U.S. dollar yield tokens and a fixed token value of $1.
Following the successful launch of the iShares Bitcoin Trust (IBIT) in January, which drew over $15 billion in investments and cemented BlackRock’s place in the digital asset market, the company’s venture into digital assets is still gaining momentum.