Key Takeaways
- BlackRock’s BUIDL fund is the primary tokenized treasury to achieve a $500 million market cap.
- Ethereum dominates the tokenized treasury market with over 75% share.
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BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has surpassed $500 million in market worth, in line with knowledge from Dune Analytics. The expansion additionally made BUIDL the primary tokenized fund to hit the $500 milestone.
As of July 8, BUIDL has attracted round $502 million in deposits. Knowledge from Etherscan reveals that the most recent achievement comes as Ondo Finance elevated its holdings in BUIDL.
Ondo’s OUSG is the biggest holder with $173.7 million, adopted by Mountain Protocol, which makes use of BUIDL to again its USDM stablecoin, as reported by Crypto Briefing.
In the meantime, Franklin Templeton’s Franklin OnChain US Authorities Cash Fund, represented by the BENJI token, has captured round $402 of deposits.
BlackRock’s BUIDL stays dominant within the tokenized authorities securities market. Launched in late March this 12 months, the fund surpassed Franklin’s FOBXX to turn out to be the world’s largest tokenized treasury fund inside six weeks.
The full marketplace for tokenized treasury funds now stands at $1.67 billion, with Ethereum main the house, Dune Analytics knowledge reveals.
The true-world asset (RWA) market is on the rise. In line with knowledge aggregator Artemis, RWA tokens grew virtually 28% on common in the course of the second quarter, outperforming different crypto sectors. Outstanding names embrace Ondo (ONDO), Mantra (OM), Clearpool (CPOOL), and Maple (MPL).
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