BlackRock tokenized fund attracts $160 million in deposits in one week

BlackRock, the world's largest asset manager, launched BUIDL last week. The fund raised $160 million in its first week, Bloomberg reported Wednesday. Ondo has since said in a blog post that it will allocate "a majority" of the assets of its tokenized short-term U.S. Treasury Bond ETF, OUSG, to BUIDL. Ondo is transferring $95 million to BUIDL, which as of Wednesday afternoon had a balance of $244.8 million when almost $84 million was deposited at 2:49 PM ET (18:49 UTC), according to blockchain data. The BlackRock USD Institutional Digital Liquidity Fund (BUIDL) is a tokenized money market fund that invests in U.S. Treasuries, repurchase agreements, and cash. With the help of Miami-based Securitize, it uses the Ethereum blockchain to issue BUIDL tokens that aim to provide a stable value of $1 per token, with dividends paid to accredited investors in the form of tokens representing U.S. dollar gains.