BlackRock’s BUIDL Fund Expands to Aptos, Arbitrum, Avalanche, and More

• BlackRock has announced the expansion of its BlackRock USD Institutional Digital Liquidity Fund to multiple new blockchains.
• The BUIDL was originally launched on Ethereum in March.
• BlackRock is aiming to bridge traditional and digital financial ecosystems.

BlackRock has announced it is expanding its tokenized liquidity fund to multiple blockchain platforms.

The move comes as the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) has seen significant growth in assets under management (AUM).

BUIDL Expands

The BUIDL, originally launched on Ethereum in March, will now be available on Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet, and Polygon.

BlackRock’s expansion is part of the investment management service’s mission to bridge traditional and digital financial ecosystems, BlackRock said on Wednesday, Nov. 13.

The investment management company said the expansion will offer optionality and increased access for investors by allowing developers to build on the fund in their preferred ecosystem.

Users on compatible blockchains will reportedly be able to achieve on-chain yield with flexible custody and near real-time, round-the-clock peer-to-peer transfers.

BlackRock’s Success

BlackRock said on Wednesday that the fund, tokenized through Securitize, became the largest tokenized fund in assets under management in less than 40 days.

“We wanted to develop an ecosystem that was thoughtfully designed to be digital and take advantage of the advantages of tokenization,” said Securitize CEO and co-founder Carlos Domingo.

“Real-world asset tokenization is scaling, and we’re excited to have these blockchains added to increase the potential of the BUIDL ecosystem,” he added.

BUIDL has seen significant growth in AUM since its launch, with stablecoin issuer Circle contributing $11 million of USDC to the fund.

In other areas of the digital asset market, BlackRock has seen success with its Bitcoin ETF, the iShares Bitcoin Trust, which received SEC approval in January.

The ETF has now amassed around $40 billion in AUM since launching in January, which is more than every every 2,800 ETFs introduced in the past decade, Bloomberg reported .