BlackRock has announced the expansion of its tokenized BUIDL fund to five additional blockchains to enhance access and opportunities for investors and organizations.
BUIDL's Expansion
BlackRock is expanding its USD Institutional Digital Liquidity Fund, known as BUIDL, to five new blockchains: Aptos, Arbitrum, Avalanche, Optimism, and Polygon. This move follows the successful launch of the fund on Ethereum in March 2024, allowing BUIDL to become the world's largest tokenized fund by assets under management in under 40 days.
BUIDL's Wider Ecosystem
Introducing new share classes on these blockchains aims to enhance access to BUIDL's ecosystem for investors, decentralized autonomous organizations, and firms focused on digital assets. BUIDL investors can now benefit from on-chain yield, peer-to-peer transfers, and dividend accrual and distribution. Each blockchain offers unique features, from Arbitrum’s low fees and rapid transactions to Avalanche’s scalability and Aptos’s advanced security. BlackRock's fund administrator, BNY Mellon, has supported this integration, ensuring continuity for investors across digital and traditional financial systems.
Significance of the Expansion
This move highlights BlackRock’s commitment to digital finance innovation, providing developers and users in different ecosystems greater flexibility to build and interact with tokenized financial products on their preferred platforms.
The expansion of BUIDL to new blockchains strengthens BlackRock's position in digital finance, opening new opportunities for investors and organizations.
