Securitize’s BUIDL regains title as largest tokenized US Treasury fund
BlackRock’s USD Institutional Digital Liquidity Fund, known as BUIDL, has reclaimed its position as the largest tokenized Treasury product with approximately $2.8 billion in assets under management. Managed via the Securitize platform, the fund briefly lost its market-leading status to Circle’s USYC in early 2026 before recovering through sustained inflows. The broader tokenized U.S. Treasury market has expanded significantly, reaching an estimated total valuation of $15 billion to $16 billion. BUIDL maintains its competitive edge by operating across multiple blockchains, including Ethereum, Solana, Aptos, and BNB Chain. The fund functions as a tokenized money market vehicle, targeting a $1.00 net asset value while providing yields between 3.4% and 4.5% APY. Its utility is further enhanced by integrations with trading platforms like Deribit and Crypto.com, which allow investors to utilize BUIDL tokens as collateral. This development highlights the ongoing institutional competition for dominance in the rapidly growing on-chain government debt sector.
- ▸BUIDL reached $2.8 billion in AUM, reclaiming the top spot in tokenized Treasuries.
- ▸The total tokenized U.S. Treasury market is estimated at $15 billion to $16 billion.
- ▸BUIDL operates on Ethereum, Solana, Aptos, and BNB Chain using Securitize infrastructure.
- ▸Deribit and Crypto.com now accept BUIDL tokens as collateral for trading positions.
BUIDL is a tokenized money market fund that invests in short-term U.S. Treasuries, cash, and repurchase agreements. It utilizes a rebasing model to distribute daily accrued yields to investors in the form of additional tokens. The fund requires strict KYC and AML compliance for all participants, bridging traditional financial asset management with blockchain-based distribution.