BlackRock's BUIDL Fund Surpasses $900M on Avalanche

BlackRock's BUIDL fund on Avalanche has surpassed $900 million in assets, a staggering increase of over 105% within just one week. This milestone marks a significant expansion of tokenized Treasury demand across blockchains.

The total value of BUIDL now stands at around $2.87 billion, with its Avalanche position accounting for approximately one-third of the fund's overall value. Ethereum remains the largest allocation, but Avalanche has moved into second place according to RWA.xyz data.

Launched in March 2024 through tokenization platform Securitize, BUIDL primarily invests in US Treasury bills, cash, and repurchase agreements. Its stated goal is to provide current income while maintaining liquidity and stability of principal. Investors receive tokenized fund shares and daily accrued dividends, subject to eligibility and transfer controls.

BNY Mellon supports the fund's administration across digital and traditional systems, with RWA.xyz listing a 3.40% seven-day annualized yield and management fees ranging from 0.20% to 0.50%. The underlying portfolio remains managed under the fund's legal structure, while on-chain tokens record ownership.

The rapid growth of BUIDL on Avalanche reflects increasing institutional interest in tokenized real-world assets. As the market continues to evolve, it will be interesting to see how these developments shape the future of crypto finance.