BlackRock's tokenized government bond fund (BUIDL) has become the largest of its kind, surpassing rival Franklin Templeton just six weeks after listing. Blockchain data shows that after an influx of $70 million last week, BUIDL now has $375 million in deposits. FinTech Insider writes about this.
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As noted by the blockchain analytics platform, According to Dune, BUIDL accounts for 30% of the $1.3 billion US tokenized government bond sector. Since its listing on March 21, the fund, created on the tokenization platform Securitize, has captured almost a third of market share.
Product The world's largest asset manager BlackRock was overtaken by the Franklin OnChain US Government Money Fund (BENJI), launched last year. The latter's capitalization is estimated at $368 million.
The change in leadership is largely due to the growth of Ondo Finance, whose tokenized treasury bill product uses the BlackRock token as a reserve asset.
