BlackRock Expands Blockchain-Based Money Market Fund to Solana
The $1.7B BUIDL fund aims to tap into Solana's rapidly growing user base of blockchain investors.
- Published: Mar 25, 2025 at 13:43
- Edited: Mar 25, 2025 at 14:03
In another major endorsement of Solana's institutional appeal, Securitize announced Tuesday that it is bringing Blackrock's blockchain-based money market fund, BUIDL, on the Solana blockchain.
Institutional Momentum Accelerates
BlackRock's BUIDL fund, which blends traditional money market assets—cash and Treasury bills—with blockchain technology, has quickly gained traction, currently holding around $1.7 billion in assets. Securitize expects it to surpass $2 billion by early April.
Anchorage Digital, Copper, and Fireblocks, among others, are custodians supporting BUIDL investors, and Bank of New York Mellon serves as BUIDL’s cash and securities custodian.
The move mirrors an ongoing trend of institutional adoption on Solana. Earlier this year, on January 31st, Securitize collaborated with Apollo Global Management to tokenize the Apollo Diversified Credit Fund ($ACRED), deploying it across six blockchains, including Solana.
"As the market for RWAs and tokenized treasuries gains momentum, expanding BUIDL to Solana—a blockchain known for its speed, scalability, and cost efficiency—is a natural next step.” said Carlos Domingo, Co-founder and CEO of Securitize.
Next Step: Tokenized Equities
Solana Labs co-founder Raj Gokal recently identified tokenized equities as a key emerging niche during his speech at the Multicoin Summit. "It's time; the infrastructure is all there," Gokal remarked, signaling readiness for equities to transition onchain in 2025.
Step Finance, a long-standing Solana project, is preparing to address this demand with the upcoming launch of Remora Markets. The platform will enable users on Solana to trade tokenized traditional equities such as Tesla and Apple stocks directly onchain for the first time, providing greater flexibility and custody for investors.
With BlackRock's latest move onto Solana, the blockchain is increasingly emerging as a favored network for major institutions seeking to tokenize traditional financial assets. As institutional adoption of blockchain-based financial products continues, Solana is positioned to benefit from increased liquidity, broader market accessibility, and deeper integration into global financial markets.
Disclaimer: Remora Markets and SolanaFloor are owned and operated by Step Finance
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