BUIDL Becomes First Tokenized Government Bond Fund to Reach $502.8 Million Market Cap

According to BlockBeats, the BlackRock Dollar Institutional Digital Liquidity Fund (BUIDL) has reached a market cap of $502.8 million in less than four months, making it the first tokenized government bond fund to achieve this milestone.

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