TechFlow, April 25 — According to DL News, BlackRock's tokenized fund BUIDL has grown to over $2.5 billion since its launch in 2024, but nearly 80% of the assets are held by just four crypto wallets.
Among them, stablecoin project Ethena holds approximately $1.3 billion, MakerDAO's lending protocol Spark holds around $500 million, and the crypto relief fund launched by Polygon co-founder Sandeep Nailwal holds $140 million.
Michael Sonnenshein, COO of Securitize, BlackRock's tokenization partner, said the fund requires a minimum investment of $5 million, and such concentrated ownership is normal for an institutional-grade product. Currently, the global tokenized asset market exceeds $18 billion.
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