The BlackRock USD Institutional Digital Liquidity Fund has reached a market capitalization of $500 million, becoming the first tokenized treasury fund to reach this mark. 🎉 Launched less than four months ago, BlackRock BUIDL currently holds $502.8 million in tokenized Treasury bonds.

This milestone was passed after Ondo Finance bought more BUIDL, which it uses as the backing asset for its OUSG token.

BUIDL is priced 1:1 to the US dollar and pays daily compounded dividends to investors every month through a partnership with asset tokenization platform Securitize.

There are currently $1.67 billion of tokenized treasury funds on the blockchain. Ethereum is the leading blockchain for tokenization with a share of over 75% of treasury funds.