BlackRock's BUIDL hits $100M in dividends and passes $2B in assets

Source: CryptoNewsNet Original Title: BlackRock’s BUIDL hits $100M in dividends and passes $2B in assets Original Link: BlackRock’s tokenized money market fund BUIDL has distributed about $100 million in dividends since launching in March 2024, according to tokenization firm Securitize, which serves as the product’s transfer agent and administrator.

The fund, which invests in short-dated U.S. Treasuries, repurchase agreements and cash equivalents, has grown past $2 billion in value, making it one of the largest tokenized cash products in the market.

Unlike stablecoins, BUIDL is structured as a regulated money market-style vehicle whose shares are represented by tokens that settle on public blockchains. BUIDL originally launched on Ethereum, but has expanded across multiple networks as demand for onchain dollar yield products grows.

The $100 million in payouts from BlackRock’s BUIDL fund serves as evidence of blockchain-based finance delivering at institutional scale. The milestone comes as tokenized money market funds gain traction as a regulated alternative to stablecoins for institutions looking for yield-bearing dollar exposure.