BlackRock has announced the expansion of its USD Corporate Digital Liquidity Fund (BUIDL) into new blockchains such as Aptos, Arbitrum, Avalanche, Optimism, and Polygon. This aims to enhance the fund's multi-chain tokenization strategy.
Multi-Blockchain Approach
BUIDL's multi-chain approach offers greater accessibility for companies, DAOs, and investors. The fund provides features such as cross-chain yields, dividend accumulation, and nearly instant peer-to-peer transfers. Supported by BNY Mellon as custodian and administrator, this ensures continuous oversight and management across the added networks.
BUIDL’s Growth Performance
Launched on Ethereum, BUIDL became the largest tokenized fund by assets under management within its first 40 days. According to RWA.xyz, BUIDL's market value stands at 558 million USD.
Significance for Investors
The fund's multi-chain structure allows investors and digital asset-focused firms to leverage blockchain technology effectively. This strategy could play a crucial role in the future development of tokenization.
BlackRock's BUIDL fund's expansion into new blockchains increases access in the digital asset market, offering investors more flexibility and opportunities. With BNY Mellon's support, the potential of tokenized finance is reinforced.
