BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), a tokenized money market fund, has surpassed $100 million in total income distributed. This income was paid entirely on-chain to token holders.
BUIDL launched in March 2024. The fund invests in U.S. Treasuries and cash-equivalent assets.
Yield is paid directly to investors' digital wallets in the form of new tokens. All distributions originate from income generated by the underlying real-world assets.
This milestone marks a notable development in BlackRock's push into digital assets, demonstrating a successful application of blockchain technology for delivering institutional-scale yield. It underscores the growing viability of tokenization in providing investors exposure to traditional assets through blockchain efficiency and transparency.