WuBlockchain
BlackRock's tokenized U.S. Treasury fund BUIDL has crossed $900 million in assets under management on the Avalanche network, adding roughly $436 million, or 105%, over the past week according to RWA.xyz. The fund, launched in March 2024, now holds about $2.87 billion in total AUM, putting it among the largest on-chain tokenized Treasury products in the world.
Why it matters
BUIDL is BlackRock's flagship tokenized money market vehicle, and the Avalanche leg is a useful read on where institutions are parking on-chain Treasury exposure. A 105% weekly expansion on a single chain is not a retail curiosity effect; it reflects balance-sheet allocation into a yield-bearing instrument that settles 24/7 on a public network. The $2.87B headline figure is the proof point that the RWA tokenization thesis has cleared early-adopter scale and is now competing for institutional treasury mandates directly with off-chain money market funds.
Market impact
The chain-level doubling is the real story, not the total AUM. Avalanche joins Ethereum as the second network where BlackRock has meaningful BUIDL deployment, and the speed of the ramp suggests issuers and their distribution partners are now actively routing flows by chain rather than treating Avalanche as a secondary venue. Watch for $AVAX on-chain liquidity tied to BUIDL mint and redeem activity, and for competing tokenized Treasury issuers to publish their own chain-level splits; the gap between Ethereum and Avalanche as institutional settlement rails is closing faster than the market has priced in.
Source: [BlackRock USD Institutional Digital Liquidity Fund | BUIDL — RWA.xyz](https://app.rwa.xyz/assets/BUIDL)
Frequently asked questions
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What is BlackRock's BUIDL fund?
BUIDL is BlackRock's tokenized U.S. Treasury money market fund, launched in March 2024. It pays yield to tokenized holders and settles on public blockchains, with about $2.87 billion in total AUM as of the latest reporting.
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How much of BUIDL is now on Avalanche?
BUIDL has crossed $900 million in AUM on the Avalanche network, up roughly $436 million, or 105%, over the past week according to RWA.xyz data.
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Why is Avalanche growth the headline and not total AUM?
Total AUM has been growing for months, but a 105% weekly jump on a single chain signals that issuers and their institutional partners are now actively routing flows to Avalanche rather than treating it as a secondary venue. The chain-level split is the fresh signal.
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Is BUIDL the largest tokenized Treasury fund?
BUIDL's roughly $2.87 billion total AUM puts it among the largest on-chain tokenized U.S. Treasury products in the world, alongside other major tokenized Treasury issuers tracked by RWA.xyz.
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What should investors watch next?
Key signals are AVAX on-chain liquidity tied to BUIDL mint and redeem activity, whether competing tokenized Treasury issuers publish their own chain-level splits, and whether the Ethereum-Avalanche gap as institutional settlement rails continues to narrow.
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