BlackRock's Institutional Digital Liquidity Fund (BUIDL) is on the verge of reaching $500 million in assets under management. Represented by the BUIDL token on the Ethereum network, the fund currently holds $491 million in assets, as per Dune Analytics. Despite market struggles for top cryptocurrencies like Bitcoin and Ethereum, the BUIDL fund continues to attract investors, requiring a minimum entry of $5 million. Created in partnership with Securitize, the fund invests solely in cash, US Treasury bills, and repurchase agreements, offering investors yield while holding tokens on the blockchain. Notably, the fund has gained significant market share since its launch in March, with Ondo Finance owning a substantial portion. This growth underscores the rising institutional interest in tokenizing real-world assets, with a recent survey showing 50% of institutional investors keen on tokenized assets for portfolio diversification and liquidity benefits. The presence of over $1.5 billion worth of US Treasuries on blockchain networks further highlights the growing trend towards tokenization in the financial sector. Read more AI-generated news on: https://app.chaingpt.org/news