BlackRock’s tokenized cash fund BUIDL vaulted past $900 million on Avalanche this week, highlighting how fast institutional real‑world assets (RWAs) are spreading across blockchains.
According to Wu Blockchain’s July 12 report citing RWA.xyz, BUIDL’s Avalanche holdings jumped from about $464 million to roughly $900 million in seven days — an addition of about $436 million and a 105% weekly gain. RWA.xyz’s BUIDL dashboard shows the fund’s total across all supported networks at roughly $2.87 billion, meaning Avalanche now holds nearly one‑third of the fund and is BUIDL’s second‑largest network allocation behind Ethereum.
BUIDL — BlackRock’s USD Institutional Digital Liquidity Fund — launched in March 2024 via Securitize. It invests primarily in U.S. Treasury bills, cash and repurchase agreements with a stated objective of “current income” while preserving liquidity and principal stability. Investors receive tokenized shares that accrue daily dividends subject to eligibility and transfer restrictions; the fund continues to target a $1 net asset value per share.
The fund debuted on Ethereum and expanded in November 2024 to Aptos, Arbitrum, Avalanche, Optimism and Polygon, later adding Solana and BNB Chain. BNY Mellon handles administration across both digital and traditional systems. RWA.xyz reports a seven‑day annualized yield of 3.40% for BUIDL and management fees between 0.20% and 0.50%, figures that can move with short‑term rates, expenses and the share class used.
Avalanche’s broader RWA growth helps explain the move: RWA.xyz lists about $2.10 billion in distributed real‑world asset value on Avalanche, up more than 58% over 30 days. Based on those numbers, BUIDL’s Avalanche allocation now represents roughly 43% of the network’s distributed RWA. Avalanche also hosts tokenized offerings from managers such as Franklin Templeton and others.
BUIDL has also begun to enter decentralized finance on Avalanche. Securitize’s sBUIDL token — redeemable one‑for‑one for BUIDL — was added as collateral on Euler in May 2025, enabling approved users to borrow USDC or AUSD against the position through curated lending markets.
The BUIDL surge arrives amid rapid institutional tokenization: tokenized RWAs surpassed $29 billion by April 2026, with tokenized U.S. Treasuries climbing from roughly $380 million in 2023 to $13.4 billion over the same period. But BUIDL remains concentrated among a small group of qualified investors — RWA.xyz lists just 113 holders even as the fund approaches $2.87 billion in total value — so this Avalanche bump may reflect one or a few large allocations rather than broad retail adoption.
BlackRock and Securitize have not publicly identified who moved the capital to Avalanche. On‑chain dashboards confirm the asset growth but do not reveal whether it came from new subscriptions, cross‑chain transfers, or both. Market participants can continue to monitor RWA.xyz as BUIDL’s multi‑chain footprint evolves.
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