BlackRock Advances on Solana! BUIDL Market Capitalization Reaches $1.7 Billion, Firmly Establishing Itself as the “Tokenized National Debt” Leader

03/26/2025

BlackRock’s Tokenized Fund BUIDL Expands to Solana

Renowned asset management company BlackRock, in collaboration with the RWA platform Securitize, officially launched the tokenized fund BUIDL in March 2024. On March 25, 2024, BUIDL made its way onto Solana, becoming the fastest expanding and largest tokenized US Treasury product in the market. Currently, BUIDL’s market capitalization has reached 1.7 billion USD, approaching the 2 billion USD mark, solidifying its position as the market leader in this product category.

7-Month Surge of 240%, BUIDL’s Market Cap Jumps from 500 Million to 1.7 Billion

The tokenized fund BUIDL was co-launched by BlackRock and Securitize in March 2024. According to rwa.xyz, BUIDL first surpassed a market cap of 500 million USD in July 2024, and has since skyrocketed to 1.7 billion USD, reflecting a remarkable growth rate of 240%.

The market cap of the tokenized fund BUIDL has now reached 1.7 billion USD, securing the top market share in its category.

BUIDL Dominates Tokenized US Treasury Market

BUIDL currently holds nearly 34% market share in the tokenized US Treasury market, far surpassing competitors such as Hashnote, Franklin Templeton, and Ondo USDY.

What is Tokenized US Treasury?

In simple terms, it involves moving traditional US Treasury securities to the blockchain and tokenizing them. This allows investors to:

Invest without waiting for banks
Trade beyond business days
Check returns at any time
Move assets across chains

It functions as a form of on-chain fixed deposits and bond portfolios, particularly suitable for investors seeking stable returns.

Daily Interest Calculation and Monthly Payout, 7 Million USD Interest Distributed

BUIDL stands out for its ability to tokenize traditional money market funds, offering flexibility:

Price stability anchored to USD
Daily interest accrual with monthly automatic payouts
Tokenization managed through Securitize

As of August 2024, BUIDL has distributed a total of 7 million USD in interest to its holders.

Securitize announced in August 2024 that 7 million USD in interest has been distributed to investors.

From Ethereum to Multi-Chain, Now Expanding to Solana Ecosystem

BUIDL initially operated solely on Ethereum but quickly expanded to a multi-chain setup. In November 2024, BUIDL expanded to the following chains:

Aptos
Arbitrum
Avalanche
Optimism
Polygon

Now, BUIDL has taken a further step, officially expanding to Solana on March 25, 2025. Securitize’s founder, Carlos Domingo, announced on Twitter (X) that BUIDL has fully entered the cross-chain era.

Securitize founder Domingo announced BUIDL’s entry into Solana on Twitter.

Ethereum Remains Market Leader, but BUIDL is the Most Aggressive in Multi-Chain Expansion

According to rwa.xyz, the total market capitalization of the entire tokenized US Treasury market is approximately 5 billion USD, with 3.6 billion USD of that being on Ethereum. Therefore, Ethereum continues to hold a dominant position in the blockchain space.

Ethereum accounts for 3.6 billion USD in the tokenized US Treasury market on blockchain.

That said, BUIDL is the only mainstream fund product currently spanning multiple chains. With BlackRock’s brand trust, substantial capital, and daily interest accrual design, it has attracted an increasing number of institutional users to enter the market.

(Ethena and Securitize launched Converge: an EVM chain tailored for institutional tokenized assets.)

Risk Warning

Cryptocurrency investment is highly risky, and its prices can be extremely volatile. You may lose your entire principal. Please carefully evaluate the risks.