This achievement has been facilitated, in part, by the recent debut of the BlackRock USD Institutional Digital Liquidity Fund
Across Ethereum, Polygon, Solana, and various other blockchains, more than $1 billion worth of United States Treasuries are now digitised. This achievement comes on the heels of BlackRock's introduction of its inaugural tokenised asset fund, BUIDL, which recently joined 16 other similar funds focused on government securities.
BlackRock's offering, identified as "BUIDL," was introduced on Ethereum on March 20 and currently holds a market capitalisation of $244.8 million. Etherscan data indicates that four transactions totaling $95 million were made to the fund over the past week, bolstering its position as the second-largest tokenised government securities fund.
BUIDL, in second place, trails behind Franklin Templeton's Franklin OnChain U.S. Government Money Fund (FOBXX), which has $360.2 million in U.S. Treasuries.
Ondo Finance, a real-world asset tokenisation firm, recently deposited $79.3 million into BlackRock's fund. This transaction facilitates instant settlements for Ondo Finance's own U.S. Treasury-backed token, OUSG. Ondo Finance made a total of $95 million in deposits across four transactions.
As a result of these deposits, Ondo Finance now holds a 38% share in BUIDL.