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

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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.


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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets:

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 06:30:02 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 444 words

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Sentences: 69 lines

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Copyright Owner: © NewsBTC

News ID: 23580977

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