BlackRock’s BUIDL Tokens: Ethena Labs Hits the Jackpot with $225M Mint!

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So, guess what? Ethena Labs just decided to play Monopoly with BlackRock’s BUIDL tokens and minted a whopping $225 million on March 25! 🎉 According to Arkham Intelligence (which sounds like a superhero team, but I digress), they now hold a staggering $1.29 billion in these shiny tokens. 💰

With this minting extravaganza, Ethena (ENA) is strutting its stuff in the tokenized U.S. Treasuries market like it just won a dance-off. And at the center of this financial fiesta is USDtb, Ethena’s yield-generating synthetic dollar. Because who doesn’t want a synthetic dollar? It’s like a regular dollar, but with a little more pizzazz! 💃

ETHENA NOW HOLDS OVER $1B OF BLACKROCK BUIDL TOKENS

ETHENA JUST MINTED $225M BUIDL-I CLASS

— Arkham (@arkham) March 25, 2025

Now, let’s talk about USDtb. It’s like a VIP pass for investors to get a taste of Treasury yields while still being able to scroll through TikTok on-chain. Currently, it’s backed by $1.4 billion in assets—90% of which are BUIDL tokens, along with some Tether (USDT) and USD Coin (USDC). Because why not throw in a little extra cash for good measure? 💸

With an average yield of 4.34%, tokenized U.S. Treasuries have ballooned into a $5.2 billion market. That’s right, folks! It’s like the stock market, but with fewer suits and more hoodies. RWA.xyz reports that institutional players are flocking to this sector faster than I can say “blockchain technology.”

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Officially dubbed the BlackRock USD Institutional Digital Liquidity Fund (try saying that three times fast), BUIDL is a tokenized money market fund that launched in March 2024 with Securitize. It’s like a financial buffet, serving up U.S. dollar yields through investments in cash, Treasury bills, and repurchase agreements. Yum! 🍽️

BUIDL is growing faster than my collection of cat memes, surpassing $1.9 billion in assets under management and snagging a 37% market share of the tokenized U.S. Treasuries market. It’s leaving competitors like Franklin Templeton’s On-Chain U.S. Government Money Fund ($692 million) and Hashnote’s Short Duration Yield Coin ($751 million) in the dust. Sorry, not sorry! 😜

And just when you thought it couldn’t get any better, on March 25, BlackRock and Securitize announced BUIDL’s expansion to Solana (SOL). Now it’s available on seven blockchains, including Ethereum (ETH), Aptos (APT), and Arbitrum (ARB). BUIDL is also becoming the cool kid on the block for DeFi applications like Sky (formerly MakerDAO). Talk about a glow-up! 🌟

Meanwhile, Fidelity Investments is gearing up to launch its own tokenized U.S. money market fund and a stablecoin. Because if you can’t beat them, join them, right? These developments are like a sign that traditional finance is finally ready to swipe right on blockchain-based assets. 💖

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2025-03-26 11:27