Bubble
BlackRock USD Institutional Digital Liquidity Fund BUIDL
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) was trading at $1.00, ranked #46 by market cap at $2.70B, with 24h volume of $0.00.
Data snapshot: 2026-08-03 09:00 UTC.
BUIDL is BlackRock's first tokenized fund, issued on Ethereum via Securitize. Each token represents a real share of a money-market fund holding cash, short-term US Treasury bills and repurchase agreements, with daily accrued dividends paid directly to holders' wallets. It's one of the clearest examples yet of traditional institutional finance settling on public blockchain rails. BUIDL is a tokenised money-market fund from one of the world's largest asset managers, holding cash and short-term Treasuries with shares issued on-chain. Its importance is not its size on this map but what it signals: an institution of that scale issuing a fund directly on public blockchain infrastructure changes the credibility of the whole tokenised-asset category. It has been adopted as collateral in several institutional crypto contexts. Access is restricted to qualified investors, so it is not a token retail holders trade.
What is BUIDL?
A tokenised money-market fund holding cash and short-term US Treasuries, with fund shares issued on public blockchain infrastructure.
Why is it significant?
Because of who issues it. A fund from one of the largest asset managers being issued on public chains changes the credibility of tokenised real-world assets generally.
Can retail investors buy it?
No. Access is restricted to qualified investors, as with the underlying fund.
What is it used for on-chain?
Primarily as yield-bearing collateral in institutional contexts, where posting a Treasury-backed instrument is preferable to a non-yielding stablecoin.
Market cap decides how big a bubble is drawn, so rank is what places BUIDL on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #9 | Figure Heloc (FIGR_HELOC) | $20.31B |
| #28 | Tether Gold (XAUT) | $2.52B |
| #36 | PAX Gold (PAXG) | $1.85B |
| #41 | Circle USYC (USYC) | $3.01B |
| #46 | BlackRock USD Institutional Digital Liquidity Fund (BUIDL) | $2.70B |