BlackRock BUIDL Fund Investors Now Supported Transfer USDC By Circle

Key Points:

• Investors in BlackRock BUIDL fund can now swap holdings for USDC tokens with ease.
• The digital dollar offers a seamless off-ramp option for BUIDL shareholders seeking to convert their assets.
• With $245 million in assets in its debut week, the Ethereum-based fund highlights growing interest in tokenized assets among institutional investors.

Circle, a prominent digital financial technology firm and issuer of the USDC stablecoin has unveiled a groundbreaking smart contract feature facilitating seamless transfers for investors in the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).

Circle Revolutionizes Asset Transfers with Smart Contract for BlackRock BUIDL Fund

This innovative functionality enables BlackRock BUIDL fund shareholders to effortlessly exchange their holdings for USDC tokens, providing a swift and continuous off-ramp option and emphasizing the inherent advantages of tokenized assets: speed, transparency, and efficiency.

Through Circle‘s newly introduced smart contract, investors gain access to a frictionless mechanism for swapping BUIDL shares for USDC on the secondary market. USDC, a trusted and transparent digital dollar, serves as a reliable medium for those seeking to liquidate BUIDL holdings while retaining exposure to digital currencies.

BlackRock BUIDL Fund Surges with $245 Million Inception Week

The recent debut of the BlackRock BUIDL fund marks a pivotal stride in asset tokenization, offering a glimpse into the future of finance by seamlessly integrating digital and traditional assets. This Ethereum-based fund, spearheaded by investment behemoth BlackRock, has garnered substantial attention, amassing a staggering $245 million in Ethereum tokens within its inaugural week.

Notably, data from Etherscan reveals ten transactions funneling funds into the BlackRock USD Institutional Digital Liquidity Fund since its inception, starting with a $5 million influx on March 20.

BlackRock’s BUIDL token, built on the Ethereum blockchain in collaboration with asset tokenization platform Securitize, represents investments in U.S. Treasury bills and repo agreements. Maintaining a stable value pegged to $1, holders of the token receive yields from the underlying assets, with the offering primarily targeting large institutional investors.