BlackRock’s BUIDL Fund Expands to Solana, Boosting Multichain Tokenization
25.03.2025 15:20
BlackRock's tokenized money market fund, BUIDL, has expanded its availability to Solana, joining six other blockchains including Ethereum, Polygon, Aptos, Arbitrum, and Optimism. The fund, which combines a yield-bearing portfolio of cash and U.S. Treasuries with blockchain settlement capabilities, has already drawn $1.7 billion since its launch on Ethereum in 2023 and is expected to cross $2 billion by early April. According to Securitize, the firm behind the expansion, the move to Solana is a natural progression given the blockchain’s reputation for speed, scalability, and cost efficiency. This expansion reflects a broader trend toward institutional-grade tokenized assets and real-world assets (RWAs) on-chain, following significant growth in demand over the past year. With only 62 wallets currently holding on-chain positions in BUIDL, the strategic rollout to multiple blockchains is likely intended to enhance liquidity and accessibility, further propelling the move towards integrating traditional finance with blockchain technology. Similar tokenized products from other asset managers bolster the trend as the tokenized Treasury market continues to grow rapidly, recently exceeding $5 billion in market capitalization.
The expansion of the BUIDL fund to multiple blockchains is expected to drive demand for the token. Institutional backing from BlackRock and the growing influx of capital may boost short-term momentum, and further network integration could provide sustained long-term support.
Solana benefits from its reputation for fast, scalable, and cost-efficient transactions. The addition of BUIDL is likely to increase network activity and attract institutional interest, potentially leading to upward price pressure in both the short and long term.
Ethereum, being the initial host of BUIDL, has already seen positive demand. Although the multichain rollout might dilute exclusive attention, ETH still stands to benefit from the overall growth of institutional tokenization, supporting moderate price gains.
As the native token of Polygon, MATIC could see increased utility with the integration of tokenized funds like BUIDL on its network. The enhanced cross-chain exposure may contribute to modest positive price movement over time.
The inclusion of Aptos in the BUIDL rollout may lend additional credibility and liquidity to its ecosystem. Although the immediate impact might be limited, the long-term effect could be favorable as more institutional-grade assets migrate to the blockchain.
Arbitrum, as a prominent Layer 2 solution, stands to benefit from increased institutional activity due to tokenized asset flows. While the immediate price impact might be marginal, sustained interest could yield positive medium-term dynamics.
Optimism is well-positioned to capture part of the institutional shift towards blockchain finance. Similar to other Layer 2 protocols, the news suggests potential for upward price movement in the short term, with continued gains as the ecosystem expands.