BlackRock’s $1.7B Tokenized Money Market Fund BUIDL Expands to Solana with Securitize

BlackRock Expands BUIDL Fund to Solana as Tokenized Finance Grows

BlackRock’s tokenized money market fund, BUIDL, is now available on Solana, further strengthening the asset manager’s footprint in blockchain-based finance, Securitize announced.

With this expansion, BUIDL is now accessible on seven different blockchain networks, including Ethereum, Polygon, Aptos, Arbitrum, and Optimism. Despite its growing presence, on-chain data from rwa.xyz shows that only 62 wallets currently hold BUIDL.

BUIDL, officially known as the BlackRock USD Institutional Digital Liquidity Fund, blends a short-term yield-bearing portfolio of U.S. Treasuries and cash with the efficiency of blockchain for settlements and transfers. Since its launch on Ethereum in 2023, the fund has attracted $1.7 billion in assets and is projected to surpass $2 billion by early April, per Securitize.

“Institutional demand for tokenized real-world assets continues to rise, reinforcing the importance of bringing these investment products on-chain,” said Carlos Domingo, co-founder and CEO of Securitize. “Given Solana’s speed, scalability, and low costs, it was the logical next step for BUIDL’s expansion.”

Money market funds offer investors a way to earn interest on idle cash, but traditional versions come with trading limitations. Tokenized funds like BUIDL provide constant access, improving liquidity and usability.

BlackRock is one of several financial institutions moving into the tokenized asset space. Franklin Templeton’s tokenized fund has a $692 billion market cap and 558 holders, while Figure Markets recently launched YLDS, an interest-bearing stablecoin. Other key players in the space include Hashnote’s Short Duration Yield Coin (USYC) and Ondo U.S. Dollar Yield.

The tokenized Treasury market has been one of the fastest-growing sectors in digital assets, increasing nearly sixfold in the past year and recently surpassing $5 billion in total market capitalization, according to rwa.xyz data.