BlackRock's BUIDL Fund Expands to Solana After Surpassing $1.7 Billion in AUM

BlackRock's BUIDL fund, the largest in the tokenized money market sector, has expanded to Solana, marking its seventh blockchain network. Launched in March 2024, BUIDL's assets under management (AUM) recently exceeded $1.7 billion, fueled by $700 million in inflows over just 11 days, according to DeFiLlama data. The fund, which first crossed $1 billion on March 13, is also tradable on Ethereum, Aptos, Arbitrum, Avalanche, Optimism, and Polygon. This expansion aims to leverage Solana's speed, low costs, and active developer ecosystem to drive further adoption of tokenized real-world assets (RWAs). Other asset managers, like Franklin Templeton with its OnChain U.S. Government Money Fund (FOBXX), are also active in this growing market.