BUIDL crosses $100M in onchain dividends
BlackRock’s onchain money market fund BUIDL just hit a new milestone. On December 29, tokenization provider Securitize announced on X that the BlackRock USD Institutional Digital Liquidity Fund has now distributed around $100 million in cumulative dividends to BUIDL holders since its March 2024 launch.
Cointelegraph first reported the figure and described it as the first time a tokenized Treasury product has crossed a nine figure payout barrier. The distributions come from the fund’s portfolio of short term U.S. government securities, repurchase agreements and cash, and land directly in investor wallets as additional BUIDL tokens.
Onchain analytics hub RWA.xyz shows BUIDL holding about $1.84 billion in tokenized Treasuries across networks as of December 29, with the token trading at a $1.00 net asset value and a seven day APY near 3.7%. That mix now carries a $100 million onchain income record for institutions that joined the whitelist.
How BUIDL pays investors and why the structure matters
BlackRock introduced BUIDL in March 2024 as its first tokenized fund on a public chain, issuing shares on Ethereum through Securitize’s platform, according to the original launch release. BlackRock invests the fund entirely in cash, U.S. Treasury bills and repurchase agreements and targets a stable $1 token price. The fund accrues income daily and Securitize mints new BUIDL tokens each month into investor wallets as dividends.
That design turns the $100 million number into hard evidence that real world income streams can flow through public blockchains without breaking the money market playbook. Investors stay in a token format at every step yet still receive the same style of daily accrual and monthly crediting that they expect from a traditional institutional liquidity fund.
From Ethereum pilot to multi chain collateral layer
Securitize first brought BUIDL to Ethereum. Less than two years later, the fund sits on eight networks, including Ethereum, Solana, BNB Chain, Polygon, Avalanche, Arbitrum, Optimism and Aptos, as documented in onchain address disclosures compiled by ValueWalk and RWA.xyz.
Securitize said in a March 13 press release that BUIDL had surpassed $1 billion in assets under management within its first year of operation. Later that month the firm announced a new share class on Solana in a separate announcement and again pointed to BUIDL’s billion dollar scale. Cointelegraph, citing RWA.xyz data, later tracked BUIDL’s assets peaking above $2.8 billion in October before settling near current levels.
Exchanges now treat the fund as prime collateral. Securitize announced in June that Crypto.com and Deribit accept BUIDL as margin for trading in a joint release. In November the company and Binance extended that model with an integration that adds off exchange collateral support and a new share class on BNB Chain. BUIDL now underpins trading books and structured products at multiple venues rather than sitting as a static yield token.
“With BUIDL accepted as collateral on Crypto.com and Deribit, the fund is evolving from a yield bearing token into a component of crypto market infrastructure,” Securitize co founder and CEO Carlos Domingo wrote when those venues went live.
Tokenized Treasuries move from proof of concept to cash flow machine
BUIDL’s payout record lands inside a market that already moved from pilot scale to multi billion status. Data tracked by Token Terminal and reported by Cointelegraph shows tokenized U.S. Treasury products growing from well under $200 million in early 2024 to nearly $7 billion by late 2025. BUIDL sits at the front of that pack with close to $2 billion in assets for much of this year.
Issuers such as Circle with USYC, Superstate with USTB and Ondo with OUSG all route short duration government debt into token form on public chains. BlackRock’s entry through BUIDL, combined with the new $100 million dividend history, gives that group a reference point for size, duration and payout behavior under live market conditions.
DeFi and stablecoins plug into BUIDL’s yield stream
DeFi protocols already tap BUIDL as backing for new dollar instruments. Ethena’s USDtb stablecoin holds the vast majority of its reserves in BUIDL, according to Ethena governance materials and launch documentation from Curve Finance. A recent integration described in a Ripple and Securitize announcement adds another redemption path, letting BUIDL and VanEck’s VBILL holders swap shares directly into the RLUSD stablecoin on chain.
The same rails that moved $100 million of BUIDL income also move collateral between exchanges, structured products and stablecoins in real time. For institutional desks that still treated tokenization as marketing language, a nine figure dividend history from the world’s largest asset manager changes the conversation.
