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BlackRock: Ethereum Fund Surpasses $500 Million Mark
The world's largest asset manager is increasingly tokenizing assets on Ethereum. Now, BlackRock has reached a milestone. Its BUIDL Fund—a tokenized money market fund based on Ethereum—has exceeded the $500 million mark. This makes BUIDL the first tokenized treasury product to hit this milestone in less than four months since its launch in March 2024.
A money market fund is an investment fund that invests in short-term, highly liquid, and secure money market instruments like government bonds, certificates of deposit, and commercial paper.
The success of the BUIDL Fund is further promoted by its use in various DeFi protocols like Ondo Finance and Mountain Protocol. These protocols utilize BUIDL as collateral for their own yield-generating products, boosting demand for the fund.
Additionally, digital asset brokers like FalconX and Hidden Road have included the token in their portfolios for institutional investors. For the future of Ethereum, this could be a very positive signal.
If major financial players like BlackRock increasingly rely on Ethereum and tokenize assets, it could strengthen confidence in the Ethereum blockchain. 💼🚀📈
The world's largest asset manager is increasingly tokenizing assets on Ethereum. Now, BlackRock has reached a milestone. Its BUIDL Fund—a tokenized money market fund based on Ethereum—has exceeded the $500 million mark. This makes BUIDL the first tokenized treasury product to hit this milestone in less than four months since its launch in March 2024.
A money market fund is an investment fund that invests in short-term, highly liquid, and secure money market instruments like government bonds, certificates of deposit, and commercial paper.
The success of the BUIDL Fund is further promoted by its use in various DeFi protocols like Ondo Finance and Mountain Protocol. These protocols utilize BUIDL as collateral for their own yield-generating products, boosting demand for the fund.
Additionally, digital asset brokers like FalconX and Hidden Road have included the token in their portfolios for institutional investors. For the future of Ethereum, this could be a very positive signal.
If major financial players like BlackRock increasingly rely on Ethereum and tokenize assets, it could strengthen confidence in the Ethereum blockchain. 💼🚀📈