BlackRock BUIDL tops US$900M on Avalanche

• BlackRock's BUIDL fund has grown to more than US$900 million on Avalanche (CRYPTO:AVAX).
• Avalanche is now the fund's second-largest blockchain after Ethereum (CRYPTO:ETH).
• Demand for tokenised US Treasury products continues to grow across multiple blockchains.

BlackRock's BUIDL fund has grown to more than US$900 million on Avalanche (CRYPTO:AVAX), helping lift its total assets to about US$2.87 billion.

Avalanche is now BUIDL's second-largest blockchain after Ethereum (CRYPTO:ETH), with its allocation doubling in one week.

BUIDL's stated goal is “current income” while maintaining liquidity and stability of principal.

BlackRock launched BUIDL in March 2024 through Securitize to give eligible investors on-chain access to US Treasury bills, cash and repurchase agreements.

The fund reports a US$1 net asset value, a 3.40% seven-day annualised yield, and management fees ranging from 0.20% to 0.50%.

Avalanche now holds about US$2.10 billion in tokenised real-world assets, while BUIDL represents about 43% of that value on the network.

RWA.xyz lists 113 BUIDL holders, while BlackRock and Securitize have not identified the investors behind the recent growth on Avalanche.

At the time of reporting, Avalanche price was $6.45.