Markets
BlackRock’s Tokenized RWA Supply Surges Above $500M as Tokenized Treasury Market Skyrockets
Global asset manager BlackRock’s BUIDL token, issued in partnership with Securitize and backed by U.S. Treasury securities, surpassed a market value of $500 million on Monday, according to data from the Ethereum blockchain. Ethers scanned Shows.
It is the first tokenized treasury product to reach this milestone, just four months after its debut in March.
The growth of BlackRock’s tokenized product has been fueled by other decentralized finance (DeFi) protocols such as Ondo Finance and Mountain Protocol using BUIDL as a backing asset for their yield products. Digital asset brokers such as FalconX and, more recently, Hidden Road, have also added the token to collateral assets for their institutional investor clients across their networks.
“BUIDL continues to become the foundational tokenized asset upon which many other innovative RWA products are built,” Carlos Domingo, CEO of Securitize, told CoinDesk in an email.
U.S. Treasuries are at the forefront of the tokenization of real-world assets, as digital asset firms and global finance heavyweights rush to put traditional instruments like government bonds, private credit and funds on blockchain tracks, aiming for faster settlement and operational efficiencies.
Many digital asset companies and investors are looking to these Treasury-backed offerings as a low-risk way to park their blockchain-based money and earn a stable return without leaving the blockchain ecosystem.
The overall market for tokenized treasury securities, including BUIDL, has more than doubled this year, growing to $1.8 billion as of June 7 from $780 million in January, according to data provider rwa.xyz Shows.
BlackRock’s offering is the leader among tokenized products, claiming about 27% market share. Some major players have also enjoyed significant inflows in the past month, as rwa.xyz shows. Franklin Templeton’s offering grew 16% to $400 million, while Hashnote and OpenEden’s product grew 40% and 89%, respectively.