Ah, the grand spectacle of finance! BlackRock’s tokenized U.S. Treasury fund, BUIDL, has gallantly galloped past the $1 billion mark in assets under management, all thanks to a rather generous $200 million allocation from Ethena. One can only imagine the celebratory toasts being raised in the hallowed halls of finance! 🥂
According to the ever-reliable RWA.xyz, the BUIDL fund has experienced a remarkable 57% growth in the past month. It seems that Ethena’s (ENA) $200 million allocation on the 13th of March was the magic potion needed to stir the pot of prosperity. This fund, a delightful concoction brewed in partnership with Securitize, offers investors a taste of cash, repurchase agreements, and the ever-so-reliable U.S. Treasuries. Who wouldn’t want a slice of that pie? 🥧
Originally conceived on Ethereum (ETH), BUIDL has now spread its wings to embrace Aptos (APT), Arbitrum (ARB), Avalanche (AVAX), and Optimism (OP) through the Wormhole (W) bridge. It’s like a financial world tour, but without the jet lag! The tokenized assets are being watched over by custodians such as Anchorage Digital, BitGo, and Fireblocks, while the cash and securities are under the watchful eye of BNY Mellon. One can only hope they have a good security system in place! 🔒
Last December, Ethena introduced USDtb, a stablecoin that aims to be the trusty sidekick to Ethena USDe (USDe), its synthetic currency. Backed primarily by BUIDL, USDtb has seen its supply balloon faster than a child’s birthday balloon at a party. 🎈 Unlike its conventional counterparts, USDtb produces yield, making it the belle of the ball for investors seeking passive income. Who knew stablecoins could be so… lively?
But wait, there’s more! Beyond the realms of BlackRock and Ethena, a veritable parade of firms is joining the tokenized Treasury trend. Ondo (ONDO) Finance’s OUSG and USDY products have surged by 53% in value over the past month, inching ever closer to a combined valuation of $1 billion. Meanwhile, major prime brokers like FalconX are now accepting tokenized Treasuries, including BUIDL, as collateral for leveraged trades. It’s a veritable free-for-all! 🎉
This shift is a testament to the rising institutional trust in financial products based on blockchain technology. According to RWA.xyz, the total tokenized Treasury market has ballooned to a staggering $4.4 billion in assets as of March 14. The industry has expanded fourfold in the last year, with demand skyrocketing following the U.S. election in November. Who knew politics could be so profitable? 💼
Analysts, those ever-optimistic seers of the financial world, suggest that instead of clinging to non-yielding stablecoins, investors are increasingly gravitating towards direct Treasury exposure to access a yield that currently stands at an average of 4.28%. It seems the allure of a little extra cash is too tempting to resist! 💸
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2025-03-14 08:00