BlackRock's BUIDL Fund Reaches $2.5 Billion, with 80% of Funds Concentrated in 4 Addresses

BlockBeats News, April 25th, BlackRock's on-chain tokenized fund BUIDL has reached a total assets under management (AUM) of $2.5 billion, with around 80% of the funds concentrated in 4 wallet addresses. On-chain data shows that the stablecoin protocol Ethena-related addresses collectively hold $1.3 billion, Spark Protocol holds $500 million, and another major holder is the Crypto Relief Fund created by Polygon co-founder Sandeep Nailwal, holding around $140 million.

Securitize COO Michael Sonnenshein stated that the main reason for the high concentration of the fund is that it is an institutional product with a minimum investment threshold of $5 million, not aiming for "democratic investment." He pointed out that on-chain tokenization is still in its early stages, "only in the first half of the first innings." Securitize has also partnered with traditional private equity giants such as Apollo and KKR to launch on-chain funds, but the minimum investment threshold remains between $20,000 and $50,000, targeting only high-net-worth investors.