BlackRock’s BUIDL Fund Attracts $240 Million in First Week, Ondo Finance Commits $95 Million

BlackRock’s BUIDL fund, the first tokenized fund on a public blockchain, is off to a strong start, attracting $240 million in its first week of operation.

Tokenized real-world asset company Ondo Finance announced a significant commitment to BUIDL, pledging to move $95 million of its assets to the fund. This represents the entirety of Ondo Finance’s OUSG token’s total value locked (TVL).

The OUSG token provides exposure to short-term US Treasuries. Ondo Finance views this move as validation of their concept for a tokenized US Treasury fund and a major step forward for financial markets.

Ondo’s reliance on BUIDL aligns with their broader strategy of offering instant, 24/7 settlement and redemptions.

BUIDL Attracts $240 Million

BlackRock’s BUIDL fund has garnered significant interest, attracting $240 million in its first week. Real-time data suggests the fund holds over $100 million, primarily in USDC. Interestingly, a small portion of the balance appears to be from crypto donations.

Launched on March 19th, BUIDL offers qualified investors the ability to earn US dollar yields through a BUIDL token subscription. The fund invests solely in cash, US Treasury bills, and repurchase agreements.

Looking Ahead

BlackRock’s BUIDL fund is a landmark development in the financial industry, marking the first instance of a tokenized fund on a public blockchain. With significant initial investment and a unique structure, BUIDL’s future performance will be closely watched.