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Update March 26, 2:36 pm UTC: This article has been updated to include quotes from Brickken CEO Edwin Mata.<\/p>\n
BlackRock\u2019s Ethereum-native tokenized money market fund has more than tripled in value over the past three weeks, nearing the $2 billion mark amid rising demand for safe-haven digital assets.<\/p>\n
BlackRock\u2019s<\/a> USD Institutional Digital Liquidity Fund (BUIDL) saw an over three-fold increase over the past three weeks, from $615 million to $1.87 billion, according to Token Terminal data shared by Leon Waidmann, head of research at Onchain Foundation, a Web3 intelligence platform.<\/p>\n BlackRock BUIDL capital deployed by chain. Source: Token Terminal, <\/em>Leon Waidmann<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n \u201cBUIDL fund TVL exploded from $615M \u2192 $1.87B in just 3 weeks. The tokenization wave is hitting faster than most realize,\u201d the researcher wrote in a March 26 X post<\/a>.<\/p>\n BlackRock\u2019s BUIDL fund is part of the wider real-world asset (RWA) tokenization<\/a> sector, which refers to financial products and tangible assets such as real estate and fine art minted on the blockchain, increasing investor accessibility to and trading opportunities for these assets.<\/p>\n The surge in BlackRock\u2019s fund reflects a growing institutional appetite for tokenized RWAs due to more regulatory clarity, according to Edwin Mata, co-founder and CEO of Brickken, a European RWA platform.<\/p>\n \u201cThe US is witnessing a notable shift toward a more crypto-friendly regulatory environment,\u201d the CEO told Cointelegraph, adding:<\/p>\n \u201cThe SEC has recently concluded several investigations without enforcement actions, including those involving Immutable, Coinbase and Kraken. This trend suggests a move toward clearer regulatory frameworks that support innovation in the digital asset space.\u201d<\/p><\/blockquote>\n Related: <\/strong><\/em>Crypto markets will be pressured by trade wars until April: Analyst<\/strong><\/em><\/a><\/p>\n BlackRock launched BUIDL in March 2024<\/a> in partnership with tokenization platform Securitize. In a recent Fortune report, Securitize chief operating officer Michael Sonnenshein said the fund aims<\/a> to make offchain assets \u201cunboring.\u201d\u00a0<\/p>\n RWAs reached a new<\/a> cumulative all-time high of over $17 billion on Feb. 3, following Bitcoin\u2019s (BTC<\/a>) decline below $100,000.<\/p>\n Related: <\/strong><\/em>Redemption arcs of 2024: Ripple\u2019s victory, memecoins\u2019 rise, RWA growth<\/strong><\/em><\/a><\/p>\n The total value of onchain RWAs is less than 0.5% away from surpassing the $20 billion mark, with a total cumulative value of $19.57 billion, according to data <\/a>from RWA.xyz.<\/p>\n RWA global market dashboard. Source: <\/em>RWA.xyz<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n RWAs will likely rise to new all-time highs in 2025 as they attract investor interest amid Bitcoin\u2019s lack of momentum<\/a>, according to Alexander Loktev, chief revenue officer at P2P.org, an institutional staking and crypto infrastructure provider.<\/p>\n \u201cGiven the recent moves we\u2019ve seen from major financial institutions, particularly BlackRock and JPMorgan\u2019s growing involvement in tokenization, I believe we could hit $50 billion in TVL,\u201d Loktev told Cointelegraph.<\/p>\n Traditional finance (TradFi) institutions are \u201cstarting to view tokenized assets as a serious bridge to DeFi,\u201d driven by institutions looking for digital asset investments with \u201cpredictable yields,\u201d added Loktev.<\/p>\nRWAs near $20B record high amid Bitcoin\u2019s lack of momentum<\/h2>\n