BlackRock’s BUIDL Fund Surpasses $2.4B, With Over 90% Still on Ethereum

BlackRock’s BUIDL Fund Surpasses $2.4B Amid Market Turbulence — Sign of Growing Institutional Trust in On-Chain Assets

Just a week after crossing $2B, BlackRock’s tokenized fund BUIDL has now exceeded $2.4 billion in total assets, according to on-chain data from Dune.

What’s striking is that over 90% of these assets remain Ethereum-native, and the growth isn’t driven by Ethena’s USDtb — which has held steady at $1.4B — but by fresh capital inflows from new sources.

A Shift in Capital Allocation

The fund’s rapid expansion reflects a notable trend: despite macroeconomic uncertainty and volatile markets, institutional capital is increasingly being allocated to tokenized real-world assets (RWA). This shift highlights a growing confidence in blockchain infrastructure for asset custody, settlement, and yield generation.

Why It Matters

Institutional adoption is no longer theoretical. With BlackRock leading the charge, on-chain finance is entering a new era of legitimacy.

Ethereum remains the backbone. That 90%+ of assets remain Ethereum-based reinforces the network’s position as the primary settlement layer for tokenized securities.

De-risking via diversification. Allocating into on-chain funds like BUIDL provides exposure to U.S. Treasury yield — but with blockchain-level accessibility and composability.

As more capital seeks both safety and flexibility, the intersection of TradFi and DeFi is becoming less of a vision and more of a reality.