BlackRock Expands BUIDL to Solana as Tokenized Fund Surpasses $1.7 Billion

BlackRock has expanded its tokenized money market fund, BUIDL, to the Solana blockchain following a significant surge in assets under management. The fund, which launched in March 2024 in collaboration with Securitize, has officially surpassed $1.7 billion in AUM. This growth includes a notable $700 million inflow over an 11-day period, highlighting strong investor demand for blockchain-based yield-bearing instruments. BUIDL provides investors with exposure to U.S. Treasurys while offering 24/7 trading capabilities and daily accrued dividends, addressing traditional market inefficiencies. Beyond Solana, the fund has recently expanded to other networks including Aptos, Arbitrum, Avalanche, Optimism, and Polygon to support a multichain strategy. As of August 2024, the fund had successfully distributed $7 million in dividends to its investors. This development places BUIDL in a dominant position within the tokenized U.S. Treasury market, which is currently part of a broader sector exceeding $5 billion in total market capitalization.

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