BUIDL’s Outstanding Token Value Falls 4.72% in 30 Days to $2.168 Billion
RWA Signal Insight
U.S. TreasuriesBlackRock’s BUIDL fund, a tokenized money market fund, has seen its total value reach $2.168 billion across nine blockchain networks as of October 24. Despite a 4.72% decline in total value over the preceding 30 days, the fund maintains a stable net asset value of $1 per token. Solana currently holds the largest share of BUIDL tokens with 872.43 million units, surpassing both Avalanche and Ethereum. Avalanche’s C-Chain holds approximately 481.32 million tokens, which is roughly $60.50 million more than the combined total of Ethereum’s two listings. These figures represent the recorded distribution of tokens across chains rather than active migration or capital outflows. The fund, which invests in cash, U.S. Treasury bills, and repurchase agreements, continues to serve as a primary benchmark for institutional RWA adoption. This data highlights the growing multi-chain strategy employed by major asset managers to increase the accessibility and utility of tokenized government debt.
Key points
- BlackRock's BUIDL fund reached $2.168 billion in total value across nine networks.
- Solana leads BUIDL distribution with 872.43 million tokens recorded on-chain.
- Avalanche C-Chain holds $60.50 million more in BUIDL tokens than Ethereum's combined listings.
- BUIDL tokens maintain a $1 net asset value backed by U.S. Treasuries and cash.
Background
The BlackRock USD Institutional Digital Liquidity Fund (BUIDL) is an on-chain investment vehicle that provides qualified investors with yield from U.S. Treasury bills and cash equivalents. It operates by issuing tokens on public blockchains, allowing for near-instant settlement and peer-to-peer transfers among pre-approved institutional participants.