TechFlow news: BlackRock's Dollar Institutional Digital Liquidity Fund (BUIDL) has reached a market value of $502.8 million in less than four months, becoming the first tokenized government bond fund to achieve this milestone. According to Etherscan, this milestone was achieved after Ondo Finance purchased additional BUIDL tokens.
Since its launch on March 15, BUIDL has surpassed Franklin OnChain U.S. Government Money Fund (BENJI) to become the world's largest tokenized treasury fund, maintaining its leading position. BUIDL is pegged 1:1 to the U.S. dollar and pays dividends to investors monthly. Ondo's OUSG is the largest holder of BUIDL, with holdings of $173.7 million.
According to data from Dune Analytics, the current total value of on-chain tokenized treasury funds stands at $1.67 billion. Ethereum is the dominant blockchain for tokenization, accounting for over 75%. BlackRock CEO Larry Fink stated that blockchain tokenization can make capital markets more efficient.
