BlackRock’s BUIDL Fund Soars Past $2 Billion on Ethereum Amidst Market Downturn

BlackRock’s BUIDL fund has experienced explosive growth in recent weeks, reflecting the growing acceptance of blockchain technology within traditional finance. As the market cools amidst geopolitical uncertainty, this investment vehicle is particularly appealing due to its yield-bearing nature. 2.1 billion USD in assets under management on Ethereum (ETH) now marks a significant milestone for BUIDL. Notably, this rapid growth coincides with an increase in investor interest in blockchain-based securities. The funds, which represent a substantial proportion of the overall BUIDL token holdings across seven supported chains, are a testament to the potential of crypto within traditional markets.