tl;dr
BlackRock's tokenized US Treasury fund, BUIDL, has surpassed $1 billion in assets under management (AUM), reflecting a significant rise in adoption. The fund, launched on the Securitize platform in March 2024, has witnessed a 129% AUM increase over the last 30 days, with over $1 billion, or 86.46%, ...
BlackRock's tokenized US Treasury fund, BUIDL, has surpassed $1 billion in assets under management (AUM), reflecting a significant rise in adoption. The fund, launched on the Securitize platform in March 2024, has witnessed a 129% AUM increase over the last 30 days, with over $1 billion, or 86.46%, of its supply residing on Ethereum.
Additionally, Fidelity has filed with the US Securities and Exchange Commission to introduce a blockchain-based version of its Treasury money market fund, named "OnChain," aligning with the growing trend of financial institutions turning to blockchain for tokenizing bonds and credit instruments.
Despite a sluggish crypto market, tokenized Real World Assets (RWA) have experienced sustainable growth in 2025, with the total RWA market reaching $19.23 billion and the number of RWA holders nearing 91,000. This trend underscores the increasing institutional interest in RWA tokenization.
BlackRock’s tokenized US Treasury fund, BUIDL, has seen a sharp rise in adoption, with the fund’s assets under management (AUM) surging past the $1 billion milestone this month. This growth highlights a strong shift toward real-world asset (RWA) tokenization, even as broader crypto markets face headwinds.
According to data from RWA.xyz, BUIDL’s AUM has increased by almost 129% over the last 30 days, bringing it to $1.4 billion. While BUIDL has expanded to multiple blockchains, the majority of its supply—over $1 billion, or 86.46%—remains on Ethereum. This indicates strong minting activity on the network.
Meanwhile, investor participation has also grown. In the past month, the number of holders rose by 19%, bringing the total to 62. These numbers highlight the growing trust in blockchain-based financial products and the rising institutional interest in tokenizing bonds and credit.
Fidelity’s move mirrors a broader trend. Financial institutions are turning to blockchain to tokenize bonds, funds, and credit instruments. This shift offers improved efficiency, round-the-clock settlement, and better transparency. Meanwhile, the filing comes as institutional interest in RWAs continues to rise, despite a sluggish crypto market.
While Bitcoin is down 11% year-to-date, RWA tokens have seen sustainable growth in 2025. On-chain data shows the total RWA market has grown 18.29% in the past 30 days, reaching $19.23 billion. The number of RWA holders also increased by 5%, now nearing 91,000.
BlackRock’s BUIDL leads the RWA space by market cap. It’s followed by Hashnote’s USDY at $784 million and Tether Gold (XAUT) at $752 million. Meanwhile, US Treasuries make up $4.76 billion of the total, while private credit dominates with $12.2 billion.