BlackRock has announced that the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which initially was launched on the Ethereum network in March 2024, will now be expanding access across blockchain ecosystems through the launch of new share classes on Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet, and Polygon.
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. Each new blockchain enables the ecosystem of applications and users to natively interact with BUIDL, which can achieve on-chain yield with flexible custody, near real-time 24/7/365 peer-to-peer transfers, and on-chain dividend accrual and distribution.
BUIDL became the largest tokenized fund in AUM in the world in less than 40 days and is enabling utility for BUIDL investors through access to new ecosystems. This expansion offers optionality and increased access for investors, decentralized autonomous organizations (DAOs) and other digital asset-native firms by allowing developers to build on the BlackRock fund in their preferred ecosystem.