BlackRock's BUIDL Token Surpasses $1 Billion, Ethena Invests $200 Million

BlackRock's BUIDL token, a tokenized fund backed by U.S. Treasuries, exceeded $1 billion in assets on Thursday, according to Securitize. This milestone marks the first tokenized fund from a Wall Street institution to achieve this valuation. Ethena, a crypto protocol, contributed to this surge with a $200 million allocation this afternoon, as noted by a Securitize spokesperson. Data from Arkham Intelligence indicates the minting of $200 million worth of BUIDL tokens at 18:47 UTC on Thursday. Launched in March 2024, BUIDL offers qualified investors daily yields through short-term Treasury reserves and has captured approximately a quarter of the $4.2 billion tokenized Treasury market. Ethena's USDtb token, backed by USDC, USDT, and BUIDL, now holds a $540 million supply. Securitize integrated its first oracle on Wednesday, enhancing BUIDL's DeFi capabilities.