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The BlackRock USD Institutional Digital Liquidity Fund (BUIDL), the asset supervisor’s first tokenized cash market fund, has paid out $100 million in cumulative dividends since its launch.
That milestone was introduced on Monday by Securitize, the tokenized fund’s issuer and tokenization companion that oversees the onchain issuance and investor onboarding.
BUIDL Has Seen Robust Adoption
BUIDL was launched in March final 12 months, and was initially issued on the Ethereum blockchain, which has been a preferred selection for conventional finance companies who wish to come onchain.
The fund invests in short-term, US-dollar denominated property. This consists of US Treasury payments, repurchase agreements and money equivalents. By BUIDL, traders are capable of earn yield by way of a blockchain-based car whereas nonetheless sustaining liquidity.
To get entry to these yields, traders buy BUIDL tokens, that are pegged to the US greenback. Holders then obtain their dividend distributions instantly on the blockchain, which replicate revenue that the fund generates from its underlying property.
Since debuting on the Ethereum community, BUIDL has expanded to seven further blockchains, specifically Aptos, Avalanche, Optimism, Solana, BNB Chain, Arbitrum, and Polygon.
The $100 million milestone comes as curiosity round blockchain tokenization continues to develop. BUIDL, specifically, has seen sturdy adoption since its launch. Earlier this 12 months, the tokenized fund surpassed $2 billion in complete asset worth.
BUIDL overview (Supply: RWA.xyz)
Knowledge from RWA reveals that BUIDL’s complete asset worth has since dropped to round $1.733 billion, representing a greater than 25% decline from 30 days in the past. Nevertheless, there was a 1% rise within the variety of holders of the fund within the final month, pushing the overall to 98.
BUIDL’s Highest Market Cap Is On BNB Chain
When BUIDL’s market cap by blockchain community, the BNB Chain accounts for almost all of the tokenized fund’s capitalization at $502.7 million, the RWA knowledge reveals.
Ethereum is available in at second with $490.5 million, whereas APTOS accounts for the third-highest quantity of $295.5 million.
The Solana blockchain ranks at quantity 4, and accounts for $255.3 million of BUIDL’s capitalization.
BNB Chain making up the best portion of BUIDL’s market cap comes after Binance, the blockchain’s proprietor and the biggest crypto change by 24-hour commerce volumes, introduced in the course of November that merchants can begin utilizing BUIDL tokens as off-chain collateral on its platform.
BlackRock’s BUIDL, the world’s largest tokenized RWA, is now accepted as off-exchange collateral for buying and selling on #Binance
This milestone displays our dedication to enabling establishments to entry digital property with management, yield, safety, and capital effectivity.
— Binance (@binance) November 14, 2025
The transfer was pushed by demand from institutional shoppers for yield-bearing property that can be utilized as collateral in lively buying and selling methods. Binance’s choice additionally adopted related strikes made by Crypto.com and Deribit earlier this 12 months.
Crypto.com, a competing crypto change, began accepting collateral for margin buying and selling and superior buying and selling functions in June, permitting institutional customers and superior merchants to submit BUIDL to safe positions throughout a number of merchandise on its platform.
With reference to Deribit, merchants are capable of put BUIDL as collateral for futures and choices buying and selling.
Extra just lately, the M0 stablecoin platform adopted these firms’ lead and introduced earlier this month that it’s going to additionally begin accepting BUIDL as collateral backing for stablecoin issuers on its platform as effectively.
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