BlackRock BUIDL regains tokenised Treasury lead

• BlackRock’s BUIDL regained the top spot in the tokenised US Treasury market at about US$2.8 billion.
• BUIDL overtook Circle’s USYC as the wider market grew from US$15 billion to US$16 billion.
• Ondo Finance and Franklin Templeton also expanded their tokenised Treasury products, increasing competition.

BlackRock’s BUIDL regained the top position in the tokenised US Treasury market at about US$2.8 billion.

BUIDL surpassed Circle’s USYC, according to data cited by Crypto Briefing in the BitcoinWorld report.

BUIDL is BlackRock’s tokenised US Treasury fund, which launched in March 2024.

The wider tokenised US Treasury market grew from US$15 billion to US$16 billion in recent weeks.

Ondo Finance and Franklin Templeton also expanded their tokenised Treasury offerings, according to the report.

BUIDL offers daily liquidity and yield through blockchain-based tokens representing US government securities.

The report said tokenised Treasuries could support uses including collateral management and automated trading, while regulation remains important for adoption.