BlackRock, a leading asset manager, has announced the expansion of its liquidity fund to the Solana network, increasing its accessibility to seven blockchain networks.
Expansion to Solana
Securitize, a real-world asset tokenization platform partnered with BlackRock, Apollo, and Hamilton Lane, announced the BUIDL fund's expansion to Solana. Now available on Ethereum, Aptos, Arbitrum, Optimism, Avalanche, and Polygon, this move is driven by the growing interest in tokenized assets.
Features of the BUIDL Fund
Launched in March 2024, BUIDL has surpassed $1 billion in assets under management, offering U.S. dollar yield to qualified investors with flexible custody solutions from providers like Copper, Anchorage Digital, and Fireblocks. BUIDL also features daily dividend payouts.
BlackRock's Future and Plans
The expansion of the BUIDL fund to Solana coincides with the launch of BlackRock's spot Bitcoin ETF in Europe, becoming the largest in the world with over $50 billion in assets. This highlights the company's strategic aim to enhance its product offerings across various markets and platforms.
The BUIDL fund's expansion to Solana enables BlackRock to strengthen its position in the tokenized asset sphere and reflects the company's commitment to leveraging new technologies to enhance investment offerings.
