BlackRocks BUIDL secures more than 5m within a week amidst market turbulence

BlackRock’s Ethereum-based BUIDL fund has attracted more than $5 million in assets in the past week, despite the ongoing market turbulence, according to market analytics resource IntoTheBlock. The fund, which was launched in March on the Ethereum blockchain, is the first tokenized fund from BlackRock. It allows qualified investors to earn yields in US dollars by subscribing through fintech company Securitize. Despite the market turmoil, the BUIDL fund has maintained a positive trajectory and now has $491 million in assets under management. It surpassed Franklin Templeton’s BENJI fund in May to become the largest money market fund.