BlackRock's Tokenized Fund Reaches $2.5 Billion in Assets

According to PANews, BlackRock's on-chain tokenized fund, BUIDL, has reached an asset management scale of $2.5 billion, with approximately 80% of the funds concentrated in four wallet addresses. On-chain data reveals that the stablecoin protocol Ethena holds $1.3 billion, Spark Protocol holds $500 million, and another major holder is the Crypto Relief Fund, founded by Polygon co-founder Sandeep Nailwal, which holds around $140 million. Michael Sonnenshein, Chief Operating Officer of Securitize, noted that BUIDL's high concentration is due to its institutional product positioning, with a minimum investment threshold of $5 million, indicating no intention to pursue "investment democratization." He emphasized that on-chain tokenization is still in its early stages, describing it as "only the second half of the first inning." Currently, Securitize is collaborating with traditional private equity giants like Apollo and KKR to launch on-chain funds, but these products still require a minimum investment of $20,000 to $50,000, targeting high-net-worth investors.