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Post: Tokenization of Assets: $1 Billion in Tokenized Treasurys Across Blockchains BUIDL Fund by BlackRock Surpasses $244.8 Million Market Cap BlackRock’s BUIDL Fund Ranks Second in Tokenized Government Securities

Tokenization of Assets: $1 Billion in Tokenized Treasurys Across Blockchains BUIDL Fund by BlackRock Surpasses $244.8 Million Market Cap BlackRock’s BUIDL Fund Ranks Second in Tokenized Government Securities

Key Points:

  • A new milestone was reached in the tokenization of assets, with more than $1 billion worth of United States Treasurys existing across Ethereum, Polygon, Solana, and other blockchains.
  • BlackRock’s new tokenized asset fund, BUIDL, has been launched and now holds a market cap of $244.8 million, following transactions totaling $95 million in a week.
  • BUIDL is now the second-largest tokenized government securities fund, trailing behind Franklin Templeton’s Franklin OnChain U.S. Government Money Fund (FOBXX) which holds $360.2 million in U.S. Treasurys.

Tokenization of Assets:

A significant milestone has been achieved in the tokenization of assets, particularly with over $1 billion worth of United States Treasurys now being present across various blockchain platforms such as Ethereum, Polygon, and Solana. This marks a considerable growth in the tokenization of traditional assets into digital form, indicating a rising trend in the industry.

Launch of BlackRock’s BUIDL Fund:

BlackRock introduced its new tokenized asset fund, BUIDL, which has quickly gained traction since its launch on Ethereum. With a market cap of $244.8 million and notable transactions totaling $95 million contributing to its growth, BUIDL has become the second-largest tokenized government securities fund, showcasing the increasing interest in digital asset investments.

Comparison with Franklin Templeton’s Fund:

While BUIDL has shown impressive growth, it currently ranks second to Franklin Templeton’s Franklin OnChain U.S. Government Money Fund (FOBXX), which continues to hold the top position with $360.2 million in U.S. Treasurys. This comparison highlights the competitive landscape in the tokenized assets market and the potential for further growth and innovation in this sector.

Hot Take:

The rapid growth of tokenized assets, especially in traditional financial instruments like government securities, demonstrates a shift towards digitalization and blockchain technology in the investment landscape. As more institutions like BlackRock enter this space, we can expect increased adoption and development of innovative financial products in the crypto industry.

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