New BlackRock tokenized fund garners $160M in deposits in one week, adds $95M more

Quick Take

  • BlackRock’s tokenized investment fund has received roughly $160 million in inflows in a week. 

The BlackRock USD Institutional Digital Liquidity Fund (BUIDL), the $10 trillion asset manager's first tokenized investment fund, saw $160 million in inflows in its first week. It appears to be growing, with fresh funds from tokenized real-world asset (RWA) platform Ondo Finance. 

BlackRock, the world's largest asset manager, launched BUIDL last week. The fund raised $160 million in its first week, according to a report on Wednedsay by Bloomberg. This was followed by a blog post by Ondo saying that it will allocate "a substantial portion" of the assets of its tokenized short-term U.S. Treasury bills ETF, OUSG, into BUIDL. Ondo told CoinDesk that it was moving $95 million onto BUIDL, and by Wednesday afternoon, BUIDL's balance was $244.8 million when nearly $84 million was deposited at 2:49 p.m. ET (18:49 UTC), according to blockchain data. 

The BlackRock USD Institutional Digital Liquidity Fund (BUIDL) is a tokenized money market fund that invests in U.S. Treasury bills, repurchase agreements, and cash. With help from Miami-based Securitize, it uses the Ethereum blockchain for issuing BUIDL tokens, which are designed to offer a stable value of $1 per token and pay dividends in the form of tokens representing U.S. dollar yield to qualified investor