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Market news broke this week as BlackRock’s BUIDL tokenized fund distributed $100 million in dividends since its March 2024 launch. Assets under management now top $2 billion, making it one of the largest tokenized cash products. BUIDL invests in U.S. Treasuries, repurchase agreements, and cash equivalents. The fund, managed by Securitize, issues tokens on public blockchains. It started on Ethereum and expanded to other networks. Bitcoin market news often highlights institutional moves, and BUIDL is another example. The fund’s tokens are used as collateral and backing for stablecoins like Ethena’s USDtb.

Based on Biji.com, BlackRock's tokenized money market fund BUIDL has distributed approximately $100 million in dividends since its March 2024 launch, according to Securitize, the fund's transfer agent and manager. The fund, which invests in short-term U.S. Treasuries, repurchase agreements, and cash equivalents, now has assets under management (AUM) exceeding $2 billion, making it one of the largest tokenized cash products in the market. BUIDL operates as a regulated money market instrument, with shares represented by tokens settled on public blockchains. Initially launched on Ethereum, it has since expanded to multiple networks due to rising demand for on-chain USD yield products. The $100 million in distributed earnings marks a milestone for blockchain-based financial technology adoption at the institutional level. The fund's token structure allows qualified institutional investors to hold shares as blockchain tokens, with returns from the underlying portfolio paid out on-chain. BUIDL tokens have also been integrated into crypto market infrastructure, including as backing for stablecoins like Ethena's USDtb and as collateral in trading and financing arrangements.Source:Show originalDisclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.