BEAMSTART Logo

BlackRock Expands Crypto Reach: BUIDL Fund Goes Multi-Chain Across These 5 Blockchainsc

NewsBTC LogoNewsBTC11h ago

BlackRock Expands Crypto Reach: BUIDL Fund Goes Multi-Chain Across These 5 Blockchainsc - NewsBTC

Quick Summary:

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.

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.

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.


More Pictures

BlackRock Expands Crypto Reach: BUIDL Fund Goes Multi-Chain Across These 5 Blockchainsc - NewsBTC (Picture 1)

or

Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 06:30:02 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 444 words

Reading Time: 3 minutes read

Sentences: 67 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23580977

View Article Analysis

About NewsBTC

NewsBTC Logo

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 4 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 17 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #102

Publisher Details

Frequently Asked Questions

How long will it take to read this news story?

The story "BlackRock Expands Crypto Reach: BUIDL Fund Goes Multi-Chain Across These 5 Blockchainsc" has 444 words across 67 sentences, which will take approximately 2 - 4 minutes for the average person to read.

Which news outlet covered this story?

The story "BlackRock Expands Crypto Reach: BUIDL Fund Goes Multi-Chain Across These 5 Blockchainsc" was covered 11 hours ago by NewsBTC, a news publisher based in United Kingdom.

How trustworthy is 'NewsBTC' news outlet?

NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.

The outlet is headquartered in United Kingdom and publishes an average of 4 news stories per day.

It's most recent story was published 17 hours ago.

What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
  • News ID: #23580977
  • URL: https://beamstart.com/news/blackrock-expands-crypto-reach-buidl-1731566933197

BEAMSTART

BEAMSTART is a global entrepreneurship community, serving as a catalyst for innovation and collaboration. With a mission to empower entrepreneurs, we offer exclusive deals with savings totaling over $1,000,000, curated news, events, and a vast investor database. Through our portal, we aim to foster a supportive ecosystem where like-minded individuals can connect and create opportunities for growth and success.

© Copyright 2024 BEAMSTART. All Rights Reserved.