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BlackRock launches BUIDL, a tokenized money-market fund on Securitize
BlackRock launched the BUIDL tokenized money-market fund, which invests in US Treasury bills and repurchase agreements. Holdings are updated daily and distributed as token rebases. BUIDL grew from $400M AUM to $3B in 18 months.
- Daily yield distributions via token rebases eliminate annual dividend-payment delays
- Institutional investors fractionalizes large allocations from $2M minimums to $10,000
- Settled on Ethereum with instant finality vs. T+2 settlement in traditional markets