Financial management behemoth BlackRock has made another move in its approach to blockchain by starting a fund for big clients on the Solana network. Reports from Fortune say that this fund, called the USD Institutional Digital Fund (BUIDL), is now available on seven different blockchain platforms.
Solana & BlackRock: Pioneering Crypto Markets
BlackRock, which manages $11.6 trillion in assets, has been slowly entering the world of cryptocurrency and blockchain. Since its start in March 2024, BUIDL has already gathered $1.7 billion in assets. Experts believe the fund could reach $2 billion by April.
Expanding To A Strategic Network
Solana is attractive because it carries out transactions fast and charges low fees. This blockchain gives investors constant access to regular financial tools. Michael Sonnenshein, the COO of Securitize, says this way of doing things makes it easier and more convenient for funds like treasuries.
The institutions are here.
Today @Securitize launched the largest yield-bearing tokenized treasury fund ($1.7B), BUIDL, on Solana.
BUIDL is issued by BlackRock — the world’s largest asset manager. More from Fortune:https://t.co/pFRrr341Kv
— Solana (@solana) March 25, 2025
“We’re making them unboring,” Sonnenshein told Fortune. “We are advancing and leapfrogging some of the quote-unquote deficiencies that money markets may have in their traditional formats.”
BlackRock brought its Bitcoin ETP to Europe on Tuesday. It announced that it would start on Xetra and in Euronext Paris and Amsterdam.
Trends In Global Investment Taking Shape
Franklin Templeton also entered the blockchain scene by launching a money fund on Solana in February. This shows that more major financial groups are interested in using blockchain for investment products.
In addition to running funds on blockchain, BlackRock has set up Bitcoin and Ethereum exchange-traded funds (ETFs) in the US, Canada, and Europe. CEO Larry Fink believes blockchain will be important in future financial tools.
The company appears to have shifted its focus to asset tokenization after the breakthrough. Moving traditional investment vehicles to the blockchain is the next big thing, Fink said.
BUIDL is now a part of blockchain networks like Ethereum, Optimism, Aptos, Avalanche, Arbitrum, and Polygon. The fund, backed by cash and Treasury bills, offers big investors a new way to invest using regular financial methods.
BlackRock’s effort to merge blockchain with everyday financial products is clear with $1.7 billion already invested, showing strong interest from investors in these new financial tools.
Choosing Solana shows the growing confidence in this blockchain’s ability to manage many transactions fast and at a low cost. This makes it a suitable option for big financial firms seeking innovative investment methods.
Featured image from Gemini Imagen, chart from TradingView
