tl;dr
BlackRock's Ethereum-based BUIDL fund has seen tremendous success, raising $245 million in Ethereum tokens within a week of its launch. The fund invests solely in cash, U.S. Treasury bills, and repurchase agreements. Despite being second in market capitalization, it has garnered significant attentio...
BlackRock's Ethereum-based BUIDL fund has seen tremendous success, raising $245 million in Ethereum tokens within a week of its launch. The fund invests solely in cash, U.S. Treasury bills, and repurchase agreements. Despite being second in market capitalization, it has garnered significant attention and validation for tokenizing traditional securities on public blockchains. Additionally, BlackRock's CEO has expressed interest in an Ethereum ETF, signaling a positive outlook for the future of cryptocurrency-based exchange-traded funds.
The Ethereum-based BUIDL fund from investing giant BlackRock has raised $245 million in Ethereum tokens since its launch last week. According to data from Etherscan, ten transactions have entered the BlackRock USD Institutional Digital Liquidity Fund, beginning with $5 million on March 20 when the BUIDL fund launched. Over the next seven days, an additional $239.8 million flowed into the ERC-20-based fund, including $92 million in Ondo Short-Term US Government Treasuries from the tokenized real-world asset platform Ordo Finance. BlackRock has filed documents for the British Virgin Island-based BlackRock USD Institutional Digital Liquidity Fund with the U.S. Securities and Exchange Commission on March 14, renewing hope for a spot Ethereum ETF despite SEC pushback.
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