BlackRock now manages $2.93 billion in tokenized assets onchain, with Ethereum leading at $1.1 billion ahead of Avalanche, Solana, and BNB Chain. The asset manager has also filed with the SEC to launch two new tokenized money market funds aimed at stablecoin holders.
BlackRock's onchain assets have reached $2.93 billion, with Ethereum holding $1.1 billion of that total. Most of it sits in the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), the tokenized money market fund it launched with issuance platform Securitize in 2024.
BUIDL anchors a multichain footprint
The fund holds cash, U.S. Treasury bills, and repurchase agreements, and it represents investor shares as blockchain tokens that settle around the clock. It began on Ethereum and has since expanded across eight networks, including Solana, Polygon, Avalanche, Arbitrum, Optimism, Aptos, and BNB Chain.
Access stays restricted to qualified purchasers, with minimum investments of $5 million for individuals and $25 million for institutions. Moody's assigned BUIDL its top AAA-mf money market rating when the fund held $2.58 billion in assets under management, a stamp institutional allocators typically require before committing capital.
New funds target stablecoin cash
The $2.93 billion figure also captures newer products. BlackRock filed with the SEC on May 8 to launch two more tokenized money market funds, BSTBL on Ethereum and BRSRV across multiple blockchains. Both invest in cash and short-term U.S. Treasuries and are designed to give stablecoin issuers and holders a regulated way to earn yield on reserves.
That positions the firm to capture cash already living onchain. Stablecoins hold well over $100 billion in aggregate reserves, and issuers have increasingly parked backing assets in tokenized Treasury products rather than traditional accounts.
The tokenization race accelerates
BlackRock's growth tracks a broader boom. The tokenized real-world asset market has climbed to roughly $34.5 billion, doubling over the past year, while tokenized U.S. Treasury products recently surpassed $15.20 billion. Ethereum remains the dominant settlement layer for the sector.
Competition is thickening, with JPMorgan preparing a second tokenized Treasury fund on Ethereum and Circle's USYC topping $3 billion. The Depository Trust and Clearing Corporation has also enlisted BlackRock and Goldman Sachs for a July pilot tokenizing Russell 1000 stocks and Treasuries.
Source: Bitcoin.com News
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