BlackRock’s BUIDL expands to Solana as tokenised fund nears $2B

BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), a tokenised money market product, has expanded to Solana (CRYPTO:SOL), marking its latest blockchain integration as its market capitalisation approaches $2 billion.

Launched in March 2024 with Securitize, BUIDL now spans seven blockchains, including Ethereum (CRYPTO:ETH), Aptos (CRYPTO:APT), and Polygon (CRYPTO:MATIC), after debuting on Solana on March 25.  

The fund’s growth has been rapid: its market cap surged 240% from $500 million in July 2024 to $1.7 billion by March 2025, dominating 34% of the tokenised U.S. Treasurys market (rwa.xyz data).  

BUIDL’s success stems from its daily accrued dividends and USD peg, which aim to modernise traditional money markets by offering liquidity and transparency.  

Securitize CEO Carlos Domingo emphasised the strategic value of multichain expansion, while COO Michael Sonnenshein previously noted the goal of making offchain assets “unboring” by addressing inefficiencies in legacy systems.  

Despite Ethereum’s 72% market share in tokenised Treasurys ($3.6 billion), BUIDL’s Solana integration signals broader institutional interest in diversifying blockchain exposure.  

The fund’s expansion coincides with Frax’s approval of a BUIDL-backed stablecoin, frxUSD, further integrating tokenised Treasurys into DeFi ecosystems.  

While growth remains concentrated on Ethereum, analysts monitor whether multichain strategies will attract new institutional investors.  

BUIDL’s trajectory underscores the maturation of RWA tokenisation, though scalability and regulatory clarity remain key hurdles.

At the time of reporting, the Solana (SOL) price was $142.78.