Blackrock's on-chain tokenized assets reach $2.93 billion, with Ethereum accounting for $1.1 billion

Odaily reports that Blackrock currently manages $2.93 billion in on-chain tokenized assets, with Ethereum leading at $1.1 billion, ahead of Avalanche, Solana, and BNB Chain. Its primary on-chain assets are concentrated in the Blackrock USD Institutional Digital Liquidity Fund (BUIDL), which was launched by Blackrock and issuance platform Securitize in 2024. The fund holds cash, U.S. Treasury bonds, and repurchase agreements, representing investor shares in the form of blockchain tokens. BUIDL has expanded from Ethereum to 8 networks including Solana, Polygon, Avalanche, Arbitrum, Optimism, Aptos, and BNB Chain. Blackrock also filed with the SEC on May 8 to launch two new tokenized money market funds, BSTBL and BRSRV, targeting stablecoin issuers and holders. (Bitcoin.com News).