BUIDL by BlackRock: status and timeline

BUIDL

Institutional Treasury tokenized fund. Short-term Treasuries, repo, cash. Permissioned ERC-20 on Ethereum, Solana, Polygon, Arbitrum, Avalanche, Base, Optimism, Aptos.

DeployStage 4 of 5

$2.8B AUM, 8 blockchains, world's largest, 40% share, 3.60% APY.

Updated Aug 2026Checked 10 Oct0 updates this week

Milestones

Next · SEC tokenized fund rules finalized

Product launch on Ethereum20 Mar 2024Complete.
Reaches $1B AUMAug 2024Complete.
Expansion to Aptos, Arbitrum, Avalanche, Optimism, Polygon14 Nov 2024Complete.
Solana expansion at $1.7B AUM25 Mar 2025Complete.
Regains top spot at $2.8B AUMAug 2026Complete.

Most important updates

BUIDL reclaims top tokenized Treasury spot at $2.8B AUMAug 2026
BUIDL expands to Solana as AUM surges past $1.7B25 Mar 2025
BUIDL expands to Aptos, Arbitrum, Avalanche, Optimism, Polygon14 Nov 2024
BUIDL reaches $1B AUM, largest tokenized Treasury fundAug 2024
BlackRock launches BUIDL, first tokenized Treasury fund on Ethereum20 Mar 2024

Upcoming

Q4 2026SEC tokenized fund rules finalized (next)
2027Institutional mandate adoption

Current obstacles

Regulatory uncertaintySEC, Fed rules on tokenized funds still developing. BUIDL may need restructuring.
Yield competition3.6% is conservative but lower than crypto yields. Retail chases higher returns.
Competition from Circle, OndoUSYC briefly surpassed BUIDL in March 2026. Multiple issuers competing.

Physics limits

Interest-rate riskRising rates reduce bond values. Short duration limits this, but yields fall with rates.
Blockchain network riskIf any blockchain consensus breaks, that copy of BUIDL becomes illiquid.

How it works

4 parts

Holdings

Short-duration Treasuries and repo

BUIDL holds Treasury bills and repo agreements providing steady yield.

Dividend accrual

Daily interest, monthly distribution

Daily interest accrues. Monthly: new tokens minted and issued as dividends.

Tokenization

Permissioned ERC-20, instant settlement

Whitelisted investors hold tokens on-chain. Peer-to-peer settlement in minutes.

Multi-chain

Same fund, 8 blockchains

Same token deployed on all major chains for accessibility and liquidity.

Spec sheet

Spec	BUIDL
Assets under management (Aug 2026)	$2.8B^R (reported)
Tokenized Treasury market share	40%^R (reported)
Whitelisted holders	106+^R (reported)
30-day APY	3.60%^R (reported)

^R reported by the company

Update log

5 updates

About BlackRock

The team behind BUIDL

BlackRock

Tokenized assets, institutional RWA, $15.3T AUM

World's largest asset manager with $10T+ AUM. Major tokenized-assets player: BUIDL Treasury fund has $2.8B, BlackRock manages $150B in digital markets.

BlackRock manages $150B in digital markets: BUIDL ($2.8B), $65B stablecoins, $80B digital ETPs.
BUIDL is the largest tokenized Treasury fund, 40% market share, on 8 blockchains.
CEO Larry Fink projects $500M annual revenue from digital assets by 2030.

blackrock.com (opens blackrock.com)Company profile →

Founded: 198838 yrs
Headquarters: United States
Status: Public
Valuation: public
Works in: CryptoStablecoins & tokenization
Coverage: 1 program · 6 updateslatest 1 Aug 2026checked 10 Oct
Partners: Securitize
Suppliers: BNY Mellon
People: Larry Fink (opens en.wikipedia.org)Founder, Chairman & CEO

Spec

BUIDL

Assets under management (Aug 2026)

$2.8B^R (reported)

Tokenized Treasury market share

40%^R (reported)

Whitelisted holders

106+^R (reported)

30-day APY

3.60%^R (reported)

BUIDL

Milestones

Most important updates

Upcoming

Current obstacles

Physics limits

How it works

Short-duration Treasuries and repo

Daily interest, monthly distribution

Permissioned ERC-20, instant settlement

Same fund, 8 blockchains

Spec sheet

Update log

Aug 2026

Tue 25 Mar 2025

Thu 14 Nov 2024

Aug 2024

Wed 20 Mar 2024

About BlackRock

Current obstacles

Physics limits

How it works

Short-duration Treasuries and repo

Daily interest, monthly distribution

Permissioned ERC-20, instant settlement

Same fund, 8 blockchains

Spec sheet

Update log

Aug 2026

Tue 25 Mar 2025

Thu 14 Nov 2024

Aug 2024

Wed 20 Mar 2024

About BlackRock