tl;dr
BlackRock’s BUIDL fund paid $4.17 million in dividends in March, totaling $25.4 million since its inception. The fund, tokenizing a money market strategy of US Treasuries and cash equivalents, has seen rapid growth, reaching $1.93 billion in assets under management. Ethena Labs’ synthetic dollar, US...
BlackRock’s BUIDL fund has broken records in March, paying out a substantial $4.17 million in dividends. This remarkable achievement brings the total dividends paid to an impressive $25.4 million since the fund's establishment. The fund, which tokenizes a money market strategy of US Treasuries and cash equivalents, has seen rapid growth, with its assets under management (AUM) reaching an all-time high of $1.93 billion. The staggering growth is attributed to Ethena Labs' synthetic dollar, USDtb, which heavily relies on BUIDL, with $1.29 billion in exposure.
BUIDL has extended its reach to multiple blockchains, but Ethereum remains dominant, with nearly 90% of its shares issued on Ethereum's blockchain, totaling $1.72 billion. Notably, the fund’s multi-chain deployment aims to make institutional-grade financial products accessible across decentralized environments, fostering integrations with protocols and wallets across ecosystems.
Furthermore, BUIDL’s popularity has attracted the attention of MakerDAO’s Spark, which is considering a substantial investment of $500 million in the fund. This potential investment from DeFi protocols could further boost the fund’s market size, representing a significant 74% of current numbers.