The $375 million BlackRock USD Institutional Digital Liquidity Fund has surpassed the Franklin OnChain U.S. Government Money Fund as the largest tokenized treasury fund.
It took less than six weeks for the BlackRock USD Institutional Digital Liquidity Fund to surpass Franklin Templeton’s one year old tokenized treasury fund.
BlackRock’s six-week old product, tickered BUIDL, has notchemarket cap of $375 million, surpassing the 12-month-old Franklin OnChain U.S. Government Money Fund , which sits at $368 million,BlackRock receives memecoins, NFTs after depositing $100M USDC onchainThis creates a “chicken and egg problem,” as issuers are struggling to see a clear benefit in tokenizing assets onchain with low demand, Wan said in an April 30 X post.
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