BlackRock’s tokenized Treasury fund, BUIDL, saw its market cap grow by $52.1 million in a single day, reinforcing its position as the dominant player in a sector that barely existed three years ago. Launched in March 2024, the fund crossed the $500 million mark by mid-2024, surpassed $2 billion by late 2026, and has distributed over $100 million in cumulative dividends to holders. The overall tokenized Treasury market now stands between $15 billion and $16 billion, a fraction of the $6.7 trillion US Treasury market. BUIDL differentiates itself with a stable $1 per token NAV, daily yield accrual in the 3-5% APY range, and round-the-clock instant settlement, meeting the liquidity needs of institutional investors managing global portfolios.
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