BlackRock’s tokenized US Treasury fund, BUIDL, has reclaimed the top spot among products of its kind, with a market capitalization of roughly $2.8 billion.
Token Terminal data shows BUIDL now holds about 18.5% of the $15.1 billion tokenized Treasury market, narrowly ahead of Circle’s USYC.
Tokenized Treasury funds let institutions hold short-term US government debt on a blockchain. Settlement happens around the clock, instead of the multi-day cycles typical of traditional bond markets.
That structure has made them a popular option for institutions parking idle cash or posting yield-bearing collateral.
USYC only briefly held the top spot. The fund grew from about $600 million to nearly $3 billion over the past year.
It reached roughly $2.9 billion by late August, edging past BUIDL’s $2.7 billion, according to Token Terminal data. It then lost the lead again this week.
BUIDL is BlackRock’s USD Institutional Digital Liquidity Fund, administered by Securitize. USYC, meanwhile, represents a share in Circle’s Hashnote-based fund, which Circle folded into its stablecoin business after acquiring Hashnote in 2025.
Neither fund has held the lead for long, and that instability is itself notable. It suggests institutions are actively comparing competing Treasury products rather than settling on a single default option.
That competition signals this corner of the tokenized asset market is maturing into a genuine, contested category. It is no longer a niche dominated by a single early mover.
The bigger question is whether institutional interest stays confined to government bond products. It could instead spread into other parts of on-chain finance.
So far, the growth has stayed concentrated in Treasuries, even as the broader real-world asset (RWA) sector expands.
The post BlackRock’s BUIDL Reclaims Top Spot for Tokenized Treasuries, Bolstering RWA Market appeared first on BeInCrypto.
Sberbank’s Deputy Chairman Anatoly Popov has announced that regulated Russian exchanges are expected to achieve a trading volume of at least $46.43 billion in their
The Kremlin’s stance signals ongoing diplomatic deadlock, reducing prospects for peace and impacting geopolitical stability and market expectations. The post Kremlin dismisses Trump-Zelensky peace summit,
The significant reduction in transaction wait times enhances user experience and positions Zcash for broader adoption in privacy-focused payments. The post Zcash private transactions set
Escalating military tensions may disrupt regional stability, impacting aviation, logistics, and potentially leading to broader conflict. The post Iran releases footage of missile, drone launches
Blockchain Bodega is here and you know the vibes. We’re at the intersection of hip-hop culture and web3, exploring this new digital frontier. Who better to guide you through these uncharted lanes than Ock Chain – The Bitcoin Boss and the Consensus Corner Boys?
Ock Chain doesn’t just cook up random details about cryptocurrency; he lives it. Ock’s been deep in the game since Bitcoin was just a baby.
And let’s not forget about the Consensus Corner Boys. They’re our skilled crew of blockchain enthusiasts. They’re here to educate, entertain, and enlighten.
Welcome to Blockchain Bodega!
Copyright © 2023 Blockchain Bodega. All rights reserved.