BlackRock's Impressive Performance in the Cryptocurrency Field

BlackRock, the largest asset management company globally, is demonstrating exceptional success within the cryptocurrency environment. The organization's tokenized fund, BlackRock USD Institutional Digital Liquidity (BUILD), played a vital role in the substantial growth of the tokenized treasuries' market value during 2024.

2024 marked a remarkable increase in the market value of tokenized treasury bonds, soaring from $719 million to $1.44 billion. Tokenized treasuries represent digital versions of US government bonds functioning as tokens on the blockchain.

Surge in Tokenized Treasuries Market Value

As highlighted by Wu Blockchain on June 4, the market value of tokenized treasury bonds surged from $719 million to $1.44 billion in 2024. Key players like BUIDL, FOBXX, OUSG, USDY, and USTB contributed to the rise in tokenized treasury value.

The comprehensive value of tokenized treasuries recently exceeded $1.45 billion following a 0.3% decline in the previous week. Ethereum played a significant role with a market cap surpassing $1 billion.

Stellar secured $350.7 million, while Solana held over $46.7 million in market cap. A decline of 1.66% was recorded in token holders in the past week, now totaling 1986.

BlackRock's BUIDL maintained its lead position with around 14 holders and a market cap of $462.5 million. FOBXX and OUSG trail as the next contenders.

Dominance of BUIDL in the Crypto Landscape

BlackRock introduced BUIDL on the Ethereum blockchain on March 20, 2024, enabling users to earn US dollar yields through fund subscriptions via Securitize Markets, LLC.

Since its inception, BUIDL has steadily increased in market cap and holder count. By May 20, the treasury market cap of BUIDL reached $40 million.

Market cap of BUIDL sourced from RWA.xyz

BUIDL experienced a 107.33% surge in monthly transfer volume, now amounting to $153,652,813. The growth is evidenced by a 50% increase in monthly active addresses and now supports 14 token holders.

Apart from its engagements in the tokenized treasuries niche, BlackRock is excelling across ETF markets.

Performance of BlackRock's Spot Bitcoin ETF

Since the approval of the spot Bitcoin ETF, BlackRock's IBIT maintained remarkable performance, trading at $39.26 with a 0.456% intraday decline and a volume of $27,654,000.

IBIT's Net Inflow illustrated by CoinGlass

IBIT demonstrated significant net inflow reaching a peak of $862.12 million on March 5, 2024. By the end of May, the influx surpassed $3.07 million, showcasing amplified investor trust and engagement in IBIT.

The spot Bitcoin ETF reflects impressive metrics with a total volume of $2.05 billion, a market cap of $61.45 billion, and managing assets worth $54.31 billion.