BlackRock Expands Crypto Reach: BUIDL Fund Goes Multi-Chain Across These 5 Blockchainsc
2024年11月14日 - 3:30PM
NEWSBTC
Crypto ETF issuer and asset manager BlackRock announced on
Wednesday the expansion of its USD Institutional Digital Liquidity
Fund (BUIDL) to include five new blockchain ecosystems: Aptos,
Arbitrum, Avalanche, Optimism, and Polygon. Initially
launched on the Ethereum network in March 2024, BUIDL rapidly
gained traction among investors, becoming the largest tokenized
fund globally regarding assets under management (AUM) within just
40 days. BNY Mellon To Custody BUIDL The expansion will allow BUIDL
to interact with more blockchain-based financial products and
infrastructures. BlackRock aims to enhance accessibility for
investors, decentralized autonomous organizations (DAOs), and
digital asset firms, enabling them to leverage BUIDL within the
ecosystems of their choice. Related Reading: Bitcoin Consolidates
After Recent Surge – Metrics Reveal Moderate Selling Pressure
Carlos Domingo, CEO and co-founder of Securitize, the firm
responsible for tokenizing BUIDL, emphasized the importance of this
multi-chain approach in Wednesday’s press release by saying:
Real-world asset tokenization is scaling, and we’re excited to have
these blockchains added to increase the potential of the BUIDL
ecosystem. With these new chains we’ll start to see more investors
looking to leverage the underlying technology to increase
efficiencies on all the things that until now have been hard to do.
With the addition of these blockchains, BlackRock aims to provide
increased options and access for investors, allowing developers to
build applications that integrate seamlessly with the BUIDL fund.
BNY Mellon, which recently received a Bitcoin and crypto custody
license for institutional services, will play a key role in this
initiative as the fund administrator and custodian for BUIDL.
BlackRock Bitcoin ETF Achieves Unprecedented Growth On the crypto
ETF front, BlackRock’s Bitcoin ETF, IBIT, has reached a remarkable
milestone, surpassing the $40 billion mark in assets under
management (AUM) just two weeks after hitting $30 billion.
This achievement comes in a record 211 days, shattering the
previous record of 1,253 days held by the iShares Core MSCI
Emerging Markets ETF (IEMG). IBIT is now positioned in the
top 1% of all ETFs by assets and at just 10 months old, it has
outperformed all 2,800 ETFs launched in the past decade, according
to ETF expert Eric Balchunas. Balchunas further highlighted that
Bitcoin ETFs collectively have crossed the $90 billion asset
threshold, following a significant $6 billion surge in the past few
days. This increase comprises $1 billion in new inflows and
$5 billion in market appreciation. The growing popularity of
Bitcoin ETFs indicates that they are now 72% of the way toward
surpassing gold ETFs in total assets. Related Reading: Justin Drake
Unveils ‘The Beam Chain’: A Vision For Ethereum Final Design The
rise in Bitcoin ETF assets has coincided with a surge in investor
confidence, particularly following Donald Trump’s recent victory
over Kamala Harris in the presidential elections. This
political shift has positively influenced market sentiment,
contributing to a broader uptick in cryptocurrency prices. Bitcoin,
in particular, has experienced a substantial rally, climbing over
24% to reach a record high of $93,000 in the past week alone.
Featured image from DALL-E, chart from TradingView.com
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