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Guavy AI Editorial Team••Sentiment: 4•Clout: 45

Avalanche Sees $900M Surge in BlackRock's BUIDL Fund Assets

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BlackRock's BUIDL fund has surpassed $900 million in assets on Avalanche, marking a significant increase of 105% within a week. This growth brings the total value of BUIDL across supported networks to around $2.87 billion, with Avalanche accounting for nearly one-third of the fund.

The BUIDL fund was launched by BlackRock through tokenization platform Securitize in March 2024. It primarily invests in U.S. Treasury bills, cash, and repurchase agreements, aiming for 'current income' while maintaining liquidity and stability of principal.

Investors receive tokenized fund shares and daily accrued dividends, subject to eligibility and transfer controls. The fund has expanded to multiple blockchain environments, including Aptos, Arbitrum, Optimism, Polygon, Solana, and BNB Chain.