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- 1 The market value of tokenized treasuries grew from $719 Million to $1.44 Billion for the first time in 2024.
- 2 BlackRock’s tokenized fund, BUIDL, remained the top player with a market cap of $454,090,665.
- 3 BlackRock’s spot Bitcoin ETF, IBIT, is also shaping the crypto market with outstanding net inflows.
BlackRock, the world’s largest asset management firm, is demonstrating outstanding performance in the crypto space. The firm’s tokenized fund, BlackRock USD Institutional Digital Liquidity (BUILD), played a key role in the booming tokenized treasuries market value in 2024.
The market value of tokenized treasury bonds has surged from $719 Million to $1.44 Billion for the first time in 2024. Tokenized treasuries are digital representations of US government bonds that operate as tokens over the blockchain.
How High the Tokenized Treasuries Market Value Reached?
On June 4, Wu Blockchain took to X to highlight a surge in the market value of tokenized treasury bonds from $719 Million to $1.44 Billion in 2024. Major players, including BUIDL, FOBXX, OUSG, USDY, and USTB, added value to the tokenized treasury.
According to rwa xyz, the market value of tokenized treasury bonds has increased from $719 million to $1.44 billion since the beginning of this year, including BUIDL, FOBXX, OUSG, USDY and USTB. BlackRock's tokenized fund BUIDL, which was issued at the end of March this year, has…
— Wu Blockchain (@WuBlockchain) June 4, 2024
According to RWA.xyz, after a decline of 0.3% in the past 7 days, the total value of tokenized treasuries hit over $1,451,926,198. Furthermore, Ethereum was documented as one of the biggest networks, holding over $1 Billion in market cap.
Stellar recorded $350.7 Million, and Solana has over $46.7 Million in market cap at the time of writing. Moreover, a sharp drop of 1.66% was observed in the token holders in the last 7 days, with 1986 holders at current.
In the same way, BlackRock’s BUIDL remained in the top position with around 14 holders and $462.5 Million in market cap. FOBXX and OUSG remained the runner-ups.
BUIDL Current Standing in Crypto Space
BlackRock introduced BUIDL on the Ethereum blockchain on March 20, 2024, permitting individuals to earn US dollar yields by fund subscription through Securitize Markets, LLC.
From the launch date, BUIDL gradually surged in terms of market cap and holders. On May 20, BUIDL’s treasury market cap was $40 Million.
BUIDL market cap I Source: RWA.xyz
BUIDL‘s monthly transfer volume spiked by 107.33% and was valued at $153,652,813 at press time. Moreover, it has six monthly active addresses after a 50% surge in 30 days and 14 token holders.
Besides the tokenized treasuries market, BlackRock is also performing well in the ETFs market.
What About BlackRock’s Spot Bitcoin ETF?
Since the day of spot Bitcoin ETF approval, BlackRock’s IBIT maintained its outstanding performance and was trading at $39.26 at the time of writing, after a 0.456% drop intraday with $27,654,000 in volume.
IBIT Net Inflow I Source: CoinGlass
IBIT also performed well in net inflow, with an all-time high of $862.12 Million on March 5, 2024. On May 31, the inflow was recorded at over $3.07 Million. The data represents increased trust and investment of investors in IBIT.
Moreover, spot Bitcoin ETF holds a total volume of $2.05 Billion, $61.45 Billion in market cap, and $54.31 Billion in assets under management (AUM).
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
