BlackRock’s tokenized money market vehicle BUIDL has distributed about $100 million in cumulative on‑chain dividends and exceeded $2.000 billion in assets under management, marking rapid institutional adoption of tokenized short‑term cash instruments. The fund launched in mar. de 2024 and its scale underscores the convergence of regulated money‑market strategies with blockchain settlement and distribution.
The BlackRock USD Institutional Digital Liquidity Fund — branded BUIDL — operates as a regulated money market‑style vehicle whose shares are represented by blockchain tokens. A regulated money market fund is a short‑duration pooled investment that invests in high‑quality, liquid instruments to preserve capital and generate modest yield.
BUIDL’s underlying portfolio focuses on short‑dated U.S. Treasury bills, repurchase agreements and other cash equivalents, a conservative mix intended to produce predictable yield while limiting credit and duration risk.
Securitize functions as the fund’s transfer agent and administrator, handling on‑chain issuance and the regulatory compliance apparatus that enables tokenized shareholding. Yield from the fund’s treasury and repo holdings is distributed directly on‑chain to token holders, creating an on‑chain payout mechanism for a traditionally off‑chain product.
Market role and BUIDL distribution
Initially tokenized on Ethereum, BUIDL has expanded to multiple public blockchains — including Solana, Aptos, Avalanche, Optimism, Polygon and BNB Chain — broadening accessibility for institutional counterparties and decentralized finance participants. That multi‑chain deployment is designed to increase integration potential across trading, lending and custody infrastructures.
BUIDL tokens are being used as liquid collateral in institutional trading and financing arrangements and serve as backing for at least one stablecoin implementation cited in reports. The tokenized share model offers qualified institutional investors a compliant route to hold fund exposure natively on blockchains, effectively marrying standard short‑term fixed‑income strategies with programmable settlement.
The fund’s payout model and cross‑chain rollout have been singled out in reporting as validation points for tokenized cash products; market participants have integrated BUIDL tokens into collateral and stablecoin architectures, increasing on‑chain utility beyond passive yield generation.
BUIDL’s dual milestones — roughly $100 million in cumulative dividends and more than $2.000 billion in AUM — demonstrate that a regulated, tokenized money market product can scale quickly when combined with established asset management operations and on‑chain distribution. The development signals growing institutional use of tokenized cash instruments as collateral and settlement rails.
