BlackRock's BUIDL tokenized money market fund has reached $900 million in assets under management on the Avalanche blockchain, according to third-party tracking data. The fund added $436 million in the past week.
BUIDL launched in March 2024 as a digital representation of BlackRock's iShares Cash Management ETF, allowing institutional investors to hold short-duration dollar assets on-chain. The fund operates across multiple blockchains and has become one of the largest institutional tokenized money market products in crypto.
The growth comes as demand for tokenized real-world assets expands among institutional investors seeking on-chain yield and liquidity. Other money market funds, including Franklin Templeton's BENJI and Ondo Finance's USDY, have also grown significantly this year.
BlackRock does not publish Avalanche-specific AUM figures independently. The $900 million figure comes from third-party tracking platforms that monitor on-chain holdings across blockchain networks.