According to TechFlow, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) has reached a market value of $502.8 million in less than four months, becoming the first tokenized Treasury bond fund to reach this milestone. According to Etherscan, Ondo Finance achieved this milestone after purchasing more BUIDL.

Since its launch on March 15, BUIDL has surpassed Franklin OnChain U.S. Government Money Fund (BENJI) to become the world's largest tokenized treasury fund and has maintained its leading position. The price of BUIDL is pegged 1:1 to the US dollar and dividends are paid to investors every month. Ondo's OUSG is the largest holder of BUIDL, holding $173.7 million.

According to Dune Analytics data, the total value of on-chain tokenized treasury bond funds is currently $1.67 billion. Ethereum is the main tokenized blockchain, accounting for more than 75%. BlackRock CEO Larry Fink said that blockchain tokenization can make the capital market more efficient.