Ethena allocates $200 million to help BlackRock's BUIDL fund surpass $1 billion in assets

TechFlow news, March 14 — According to CoinDesk, BlackRock’s BUIDL token, a U.S. Treasury-backed digital asset issued in partnership with Securitize, has surpassed $1 billion in assets under management. A Securitize spokesperson said that a $200 million investment from crypto protocol Ethena on Thursday afternoon pushed the fund past this milestone.

BUIDL is increasingly being used as collateral on trading platforms and serves as the core reserve asset for multiple yield-generating products. It is the primary reserve backing Ethena’s yield-generating USDtb token, which now has a supply of $540 million. The value of USDtb is supported by stablecoins USDC and USDT, along with approximately $320 million worth of BUIDL tokens.

“Ethena’s decision to expand its investment in BUIDL for USDtb reflects our strong conviction in the value of tokenized assets and the critical role they will continue to play in modern financial infrastructure,” said Guy Young, founder of Ethena.