BlackRock surpasses milestone with BUIDL, distributing over $100 million in dividends while exceeding $2 billion in assets under management.
BlackRock has reached a symbolic milestone in financial tokenization. Its tokenized BUIDL money market fund has already paid out approximately $100 million in dividends since its launch in March 2024, surpassing $2 billion in assets under management. A strong signal for an industry still seeking to prove its ability to operate on an institutional scale.
BUIDL by BlackRock: A Monetary Fund, but Blockchain Version
BUIDL is not a stablecoin. It is a regulated money market fund, invested in short-term U.S. Treasury bills, repo operations, and cash equivalents. Its uniqueness lies in its structure: the fund’s shares are represented by tokens settled on public blockchains.
Initially launched on Ethereum, BUIDL has since expanded to multiple networks, driven by increasing demand for products offering dollar returns directly on-chain. The logic is simple: provide exposure to the risk-free American rate, with the programmability and liquidity of the blockchain.
100 Million Dividends, A Real-World Test
The $100 million already distributed mark an important milestone. They demonstrate that recurrent, regulated, and traceable financial flows can be managed entirely on-chain, without sacrificing institutional standards.
In a market still dominated by non-interest-bearing stablecoins, BUIDL emerges as a credible alternative for entities seeking dollar returns without leaving the blockchain ecosystem. This largely explains the rapid growth in assets, now exceeding $2 billion, making BUIDL one of the world’s largest tokenized treasury products.
A Key Building Block of Crypto Infrastructure
The appeal of BUIDL extends beyond generating passive income. The fund’s tokens are now used as components of the crypto market infrastructure. They serve as collateral in trading and financing operations, and as reserve assets for certain stablecoins, including USDtb.
This positioning places BUIDL at the intersection of two worlds: traditional money markets and crypto protocols in search of secure, liquid, and yield-generating assets. In practice, this allows for collateral management and settlements to move to the blockchain while maintaining exposure to sovereign assets.
Rapid Adoption, Regulatory Oversight
The rise of tokenized money market funds raises questions. Regulators and policymakers are pondering the purpose of on-chain settlement, liquidity assumptions in stress market scenarios, and the behavior of these tokenized securities during extreme events.
For BlackRock, BUIDL serves as a demonstrator. It proves that tokenized finance can function on a large scale, with real economic flows and tangible utility.
