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Fintech Nexus Publication (March 28, 2024): BlackRock’s tokenized treasuries fund brings in $245 million in first week

After we coated the BlackRock announcement final week of their new tokenized treasuries fund I believed it was an enormous deal.

One week in, this new funding automobile (ticker image BUIDL) is proving to be fairly fashionable. On-chain information reveals that $245 million value of BUIDL shares at the moment are held in seven completely different wallets. That’s the great thing about blockchain information, all the things is clear.

The tokenized fund was deployed on Ethereum final week with an preliminary funding of $5 million. The fund holds U.S. Treasuries and repurchase agreements with shareholders incomes yield within the type of BUIDL shares. The worth of BUIDL is pegged at $1, like a typical cash market fund.

With BlackRock now concerned, 2024 might be a breakout 12 months for the tokenization of real-world belongings (RWA). HSBC has launched a tokenized gold product in Hong Kong and there are a lot of different tasks world wide coming on-line.

Tokenization of RWA has had sluggish adoption because it was first imagined a number of years in the past. However now that a few of the greatest monetary establishments on the planet are actively concerned, there’s severe momentum on this sub-niche of blockchain know-how.

> BlackRock’s Tokenized Treasuries Fund BUIDL Sucks Up $245M In First Week

By Samuel Haig

Traders have piled 1 / 4 of a billion {dollars} into the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) in a single week.

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  • Peter RentonPeter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media firm centered on fintech. Peter has been writing about fintech since 2010 and he’s the creator and creator of the Fintech One-on-One Podcast, the primary and longest-running fintech interview collection.



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