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Tokenized money-markets reach new milestone

The Hash Insider

Chart of the week

Last week, BlackRock’s tokenized money-market fund, BUIDL, surpassed $1 billion in assets under management (AUM) for the first time, just one week shy of its one-year anniversary. 

 

Launched on Ethereum in March 2024, BUIDL now also operates on three Ethereum layer-2s (Arbitrum, Optimism, and Polygon) and two alternative layer-1s (Avalanche and Aptos), broadening its multi-chain presence. 

 

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This milestone highlights growing institutional engagement in crypto tokenization, underscoring the potential of digital assets and blockchain as a secure, robust, and versatile foundation for modern finance.

 

Market Highlights

 

BlackRock’s BUIDL major milestone

 

BlackRock’s tokenized money-market fund, BUIDL, surpassed $1 billion in assets under management last week, making it the first institutional on-chain fund to cross this milestone.

This highlights once again the merging of crypto and traditional finance, marking a significant step in crypto adoption by institutions and signaling the growing acceptance of traditional securities in tokenized form.

Goldman Sachs comments on crypto

In its annual shareholders letter, Goldman Sachs acknowledged crypto’s increasing role in financial markets and the growing importance of blockchain and digital assets.

Goldman Sachs' recognition of crypto reassures the growing institutional acceptance of digital assets and reinforces the idea that crypto is no longer a niche asset class but already an integral part of the evolving financial landscape.

 

 

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