Financial infrastructure firm BounceBit is tapping into BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) for a new real-world assets (RWA) yield strategy tool.

According to a new press release from BounceBit, the collaboration mixes traditional finance with blockchain infrastructure, allowing investors to leverage traditional yields with crypto derivatives trading.

Per the announcement, the strategy involves executing Bitcoin (BTC) and stablecoin trades with BUIDL as collateral. BounceBit says the trading strategy could raise total annual percentage yield (APY) for investors by 24%.

BUIDL is a BlackRock private fund, which is tokenized by Securitize and made available through its Securitize Markets.

According to a post to the social media platform X, the strategy is “the first active use-case for tokenized treasuries.”

Says Jack Lu, Founder & CEO at BounceBit,

“This innovative approach demonstrates what is possible when investors simultaneously capture both U.S. dollar yields and funding rate arbitrage returns, potentially creating opportunities for institutional investors seeking sustainable USD-denominated yield generation across market cycles.”

Last month, the Bank for International Settlements (BIS) said that the tokenization of RWAs on blockchains will develop stronger links between crypto and traditional finance (TradFi).

In a paper on the financial stability risks of crypto, BIS analysts say that RWAs – or the tokenization of traditional assets on distributed ledgers – are creating an increased connection between TradFi and decentralized finance (DeFi).

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BlackRock, the largest investment firm in the world with over $11 trillion in assets under management, made two significant moves on March 25 to increase its presence in the crypto industry.

The firm has extended its tokenized money market fund to the Solana blockchain and introduced its first Bitcoin exchange-traded product (ETP) in the European market.

Bitcoin ETP

BlackRock has launched its iShares Bitcoin ETP across major European markets.

According to the product’s website, the ETP will begin trading on March 25 on Germany’s Xetra exchange, Euronext Paris, and Euronext Amsterdam. The product trades under the ticker IB1T on Xetra and Paris and BTCN in Amsterdam.

To encourage adoption, the ETP is debuting with a reduced fee of 0.15%, which will remain in effect until 2026. After that, the fees will increase to 0.25%, aligning with similar regional offerings.

This launch follows the strong performance of BlackRock’s iShares Bitcoin Trust (IBIT) in the US, which currently manages over $50 billion in assets.

According to data from SoSoValue, the US-based fund now holds approximately 2.9% of the total circulating Bitcoin supply.

BUIDL’s Solana expansion

In a separate development, BlackRock’s tokenized fund, the USD Institutional Digital Liquidity Fund (BUIDL), is now live on Solana.

This marks the seventh blockchain to support the fund, following earlier rollouts on Ethereum, Avalanche, Arbitrum, Aptos, Polygon, and Optimism.

Securitize, BlackRock’s partner for BUIDL, explained that it expanded the product to Solana because of the blockchain network’s fast transaction speeds and low network fees.

Carlos Domingo, Co-founder and CEO of Securitize, said:

“As the market for RWAs and tokenized treasuries gains momentum, expanding BUIDL to Solana—a blockchain known for its speed, scalability, and cost efficiency—is a natural next step.”

BUIDL tokenizes traditional money market funds, offering the benefits of blockchain-based settlement and 24/7 trading. This contrasts with conventional funds that operate within limited market hours.

Currently, BUIDL manages over $1.7 billion in assets, primarily in cash and short-term US Treasury bills. Ethereum hosts the bulk of these holdings—over $1.5 billion—while the remaining assets are distributed across other supported blockchains.

Aptos and Avalanche each hold around $53 million, followed by Polygon, Arbitrum, and Optimism, which have $33 million, $32 million, and $27 million, respectively.

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Spark has announced that BlackRock, Superstate, and Centrifuge are the winners of its Tokenization Grand Prix. The goal is to allocate $1 billion in tokenized assets, with BlackRock’s BUIDL fund set to receive half of it.

The competition, launched in July 2024, allocated funds through the Spark Liquidity Layer (SLL). The initiative aimed to integrate real-world assets (RWAs) to diversify Spark’s balance sheet while expanding stablecoin adoption in DeFi. 

The final allocation remains subject to Sky (formerly MakerDAO) governance approval, with a vote scheduled for April 3.

If approved, the initiative will also invest $300 million in Superstate’s USTB and $200 million in Centrifuge-Anemoy Janus Henderson’s JTRSY.

Currently, the Spark Liquidity Layer holds USDC, USDS, sUSDS, USDe, and sUSDe. The protocol will use these stablecoins to add BUIDL, USTB, and JTRSY.

Adding RWAs to the treasury

The competition attracted 39 applications, reviewed by Steakhouse Financial, a firm specializing in RWAs within the Spark ecosystem. 

Applicants were assessed based on pricing transparency, liquidity levels, and strategic alignment with Spark’s objectives. 

Spark picked each of these RWA tokens backed by US Treasury securities, suggesting a preference for liquid and conservative assets.

BUIDL is offered by BlackRock and tokenized by Securitize. The money fund invests in US Treasury bills, repurchase agreements, and cash. 

BUIDL is the largest tokenized money fund, with over $1.2 billion in market cap as of March 18. Spark’s incoming investment could propel it close to $2 billion.

Meanwhile, Superstate’s USTB focuses on short-duration US Treasury bills maturing in six months or less, ensuring a predictable and secure yield. It is significantly smaller than BUIDL, with $370 million participation in the market.

Lastly, Centrifuge-Anemoy Janus Henderson’s JTRSY allocates money to a short-duration US Treasury fund that reinvests in new issuances as existing securities mature. With a market cap of $32.4 million, JTRSY is also the smallest of the three tokenized funds potentially to receive Spark’s investment.

If approved, Spark’s investments in BlackRock/Securitize, Superstate, and Centrifuge will mark a significant step in integrating tokenized RWAs into DeFi infrastructure.

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The BlackRock USD Institutional Digital Liquitidity Fund, known as “Buidl,” surpasses its $1 billion in managed assets (AUM), according to a company announcement on Thursday (March 13).

This is a significant milestone for the tokenization sector as the first tokenized fund issued by the Wall Street facility to reach the multi-billion dollar milestone.

On-Chain Finance is here #builtonbuidl
We’re excited to announce it @BlackRock Tokenized by Securitize, the USD Institutional Digital Liquitidity Fund (BUIDL) has reached a $1 billion assets under management (AUM).

This shows an important milestone for… pic.twitter.com/gt66kdz2kx

– securitize (@securitize) March 13, 2025

BlackRock’s Buidl funds have reached $1 billion

Buidl was launched in March 2024, with BlackRock’s first tokenized fund being issued on a public blockchain. With AUM of over $11 trillion, the world’s largest asset manager offers qualified investors the ability to win on-chain US dollar yields.

Yields are paid daily via dividends earned through baskets in the Short-Term Treasury Reserve. The Buidl Token is fixed in US dollars. This means it acts like a revenue-raising alternative to Stablecoins such as USDT and USDC.

Until yesterday, Hashnote’s USYC was listed as the world’s largest tokenized money market fund, backed by the tokenized Treasury Ministry. Defillama data shows USYC’s AUM is $851.81 million, while Buidl is over $1 billion.

Leading the path to tokenized asset projects, Buidl looks at two of the best RWA cryptocurrencies that everyone should consider as part of a balanced portfolio.

Discovery: Will Popcat Crypto make a comeback? The price of a pop cat shows the first signs of life for weeks

Best RWA Crypto #1: Ondo Finance (Ondo) – A market leading to tokenized asset platforms

(Coinecko)

Ondo Finance (Ondo) continues to grow. Like Buidl, Ondo has now surpassed Total-Value locked $1 billion, the largest TVL for individual real-world assets (RWA) projects.

Ondo’s TVL growth is incredible, with the latest spikes exceeding $1 billion, up 53% per month. This emphasizes two things. One is the market’s appetite for investment in the RWA sector. Second, Ondo’s exponential TVL growth demonstrates its position as a major tokenized asset project in the market.

Ondo’s bullish catalyst doesn’t seem to be over as the team delivered roadmap targets non-stop. It also supports Ondo owns both BlackRock’s Buidl fund and President Trump’s Global Free Finance Project.

Ondo is currently trading at around $0.87, with many analysts hoping to surge towards its February high of $1.42 as a short-term price target. RWA sentiment continues to grow and Ondo is already well positioned The blue chip project within the sector is hoping to return to its previous all-time high of $2 in the coming months.

Best RWA Crypto #2: Landshare (Land) – A hidden gem that leads the way in BNB chain utility projects

Winners pay attention to promising projects!

The final dip before Full Send is here!

I have a complete belief $ Land. Real estate tokenization grows exponentially, and land share is pic.twitter.com/DR7QEUX79X

– Luke Mayfield (@may2_luke) February 28, 2025

Landshare (Land) has over four years of real estate tokenization experience, making him one of the more established and experienced RWA teams. It’s a low cap low supply project while maintaining this status.

The land tokens are built on top of the Binance Smart chain. With chains well known for their meme coins such as Broccoli, Landshare stands out as one of the best utilities-focused projects in the Binance Smart chain.

By retaining the land, investors have access to the purchase, renovation and final sale of crowdsourced properties. Investors can purchase and hold shares in rental properties by holding tokens. This is an attractive opportunity for those looking for decentralized passive income and real estate exposure.

The land is currently trading at around $0.62 per token, representing a true microcap with a market capitalization of just $3.5 million. With the team’s long-standing presence and continued product delivery, LandShare represents a truly underrated RWA play.

(Coinecko)

Explore: Best New Cryptocurrencies to Invest in 2025

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Post BlackRock RWA Fund ‘Buidl’ exceeded $1 billion AUM. The best RWA Crypto to buy in 2025? It first appeared in 99 Bitcoin.

BlackRock’s USD Institutional Digital Liquidity Fund, known on-chain as BUIDL, reached $1 billion in tokenized assets as of March 2025, per data from rwa.xyz.

On March 13, the fund minted over $206 million in new tokens as liquidity continues to flow into the fund.

While Bitcoin and the broader crypto market is down over the past month, BlackRock’s BUIDL is soaring. The milestone marks a 56% increase within 30 days, reflecting growing institutional confidence in tokenized real-world assets (RWAs).

Launched in March 2024 through Securitize’s digital issuance platform, BlackRock’s BUIDL fund primarily invests in U.S. Treasury debt and bank deposits denominated in USD. Targeted specifically toward U.S. qualified purchasers, BUIDL provides token holders an APY of approximately 4.5%, managed at fees ranging between 0.20% and 0.50%.

The fund currently has 61 holders, a 19.6% increase in the past month, highlighting steady investor demand despite recent fluctuations in broader digital asset markets. While monthly active addresses dropped slightly to 19, total monthly transfer volume surged to over $269 million, suggesting substantial institutional engagement in token transfers.

Ethereum remains the primary blockchain on the fund, hosting roughly 825 million tokens across two main contracts. Smaller allocations also exist on Avalanche, Aptos, Polygon, Optimism, and Arbitrum networks within BlackRock’s multi-chain approach for asset distribution. Ethereum’s dominance, with around $267 million in combined token value from its two largest holders, underlines the continued preference among institutional investors for Ethereum-based tokenization.

According to rwa.xyz, Tokenization of RWAs has surged industry-wide, with global on-chain RWAs reaching $18.34 billion, an increase of over 18% in 30 days. BlackRock’s rapid asset growth within the BUIDL fund parallels broader market trends of institutions integrating blockchain-based instruments to optimize liquidity and yield, utilizing blockchain efficiencies to streamline traditional treasury management.

BlackRock’s BUIDL has crossed a notable threshold, and the wider institutional adoption of on-chain U.S. Treasuries and other tokenized financial instruments indicates a deepening recognition of blockchain as a viable infrastructure for traditional asset classes.

BlackRock’s achievement of $1 billion in on-chain assets firmly positions its BUIDL fund among the most influential institutional blockchain initiatives.

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