BlackRock Expands BUIDL Fund to Solana, Eyes $2 Billion

BlackRock has expanded its tokenized money market fund, BUIDL, to the Solana blockchain, marking a significant move in its digital asset strategy. The fund, which combines traditional money market features with blockchain capabilities, has attracted approximately $1.7 billion in assets since its 2023 launch and is projected to exceed $2 billion by early April. This expansion makes Solana the seventh blockchain for BUIDL, which aims to provide constant access and yield generation for investors, unlike traditional money market funds that operate only during business hours. Securitize, BlackRock's technology partner, highlighted that tokenized funds are transforming the finance landscape by enhancing liquidity and accessibility. The growing interest in tokenized treasuries reflects a broader trend within the financial sector toward integrating real-world assets with blockchain technology. Other firms, like Franklin Templeton, are also launching similar products, indicating a competitive landscape in the tokenized treasury market.