BlackRock's BUIDL Ethereum Fund Draws $245 Million In a Week - Decrypt
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BlackRock's BUIDL Ethereum Fund Draws $245 Million In a Week According to data from Etherscan, ten transactions have entered the BlackRock USD Institutional Digital Liquidity Fund, beginning with $5 million on March 20 when the BUIDL fund launched. Over the next seven days, an additional $239.8 mill
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- BlackRock's BUIDL Ethereum Fund Draws $245 Million In a Week
- According to data from Etherscan, ten transactions have entered the BlackRock USD Institutional Digital Liquidity Fund, beginning with $5 million on March 20 when the BUIDL fund launched.
- Over the next seven days, an additional $239.8 million flowed into the ERC-20-based fund
- While not a stablecoin like USDT or USDC, BlackRock says the value of BUIDL is intended to remain 1 to 1 with the U.S. dollar, where 1 BUIDL equals $1.
- BlackRock said the fund invests 100% of its assets in cash, U.S. Treasury bills, and repurchase agreements.
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