BlackRock's BUIDL Fund on Avalanche Doubles to $900M in Just One Week

BlackRock's BUIDL fund on Avalanche has experienced a significant surge in assets under management (AUM), doubling to $900 million within a week. The fund, which offers tokenized U.S. Treasury money market investments on the Avalanche blockchain, has seen its AUM increase from approximately $464 million just a week ago.

This rapid growth suggests accelerating institutional adoption of Avalanche for tokenized assets, making it the second-largest blockchain for BUIDL by AUM after Ethereum. The stable value of $1.00 per token with daily accrued dividends has contributed to the fund's popularity among investors.