BlackRock’s BUIDL Fund Surpasses $1 Billion Following Ethena’s $200 Million Investment
BlackRock's BUIDL token, in collaboration with Securitize and backed by U.S. Treasuries, surpassed $1 billion in assets. This milestone was achieved following a $200 million allocation from crypto protocol Ethena.
- Ethereum blockchain data indicates a minting of $200 million worth of BUIDL tokens on Thursday.
- BUIDL is central to tokenization efforts, aiming for faster settlements and efficiencies in traditional financial instruments.
- It serves as a reserve asset for Ethena's USDtb token, which has a supply of $540 million, backed by USDC, USDT, and $320 million in BUIDL tokens.
- Ethena's investment in BUIDL demonstrates confidence in the value of tokenized assets in modern finance.