BlackRock's USD Institutional Digital Liquidity Fund, marketed as BUIDL and issued in partnership with Securitize, crossed $5 billion in assets under management in July 2026, according to on-chain data confirmed by the issuer.
BUIDL invests exclusively in cash, US Treasury bills and repo agreements, and pays daily accrued dividends on-chain. It is now available across Ethereum, Aptos, Arbitrum, Avalanche, Optimism and Polygon, and is widely used as collateral by crypto-native trading firms and DeFi protocols.
The tokenised Treasury sector matures
The wider tokenised US Treasury market has roughly doubled year-on-year, with Franklin Templeton's FOBXX, Ondo's OUSG and USDY, and Superstate's USTB competing alongside BUIDL. For institutional buyers, the appeal is a familiar credit profile packaged with the settlement finality and composability of public chains.