BlackRock, the world's largest asset management firm, has announced the expansion of its tokenized fund BUIDL onto the Solana network, increasing the total number of supported networks to seven.
History of the BUIDL Fund
Last year, BUIDL was launched on Ethereum to provide US dollar returns to qualified investors through a blockchain-based subscription provided by Securitize Markets, LLC. Over time, the fund has been expanded to other networks, including Arbitrum, Aptos, Avalanche, Optimism, and Polygon.
Current Achievements of BUIDL
BUIDL allows investors to hold a fixed value token worth $1 and have daily accrued dividends paid directly to investors’ wallets. According to Securitize, BUIDL reached a new ATH of $1.7 billion today, up 165% from 30 days ago, and is expected to surpass $2 billion by early April.
Comments from Securitize Management
Carlos Domingo, co-founder and CEO of Securitize, stated: CITE_W_A
The expansion of the BUIDL fund to Solana reflects growing interest from institutional investors in tokenized assets. It is expected to positively impact market development.
