BlackRock BUIDL Fund Gets First Tokenized Index Supported by Injective

Key Points:

• Injective launched a tokenized index for the BlackRock BUIDL fund, accessible via decentralized applications on its blockchain network.
• The BUIDL fund, BlackRock’s first public blockchain tokenized fund, has grown to over $500 million in assets and offers daily dividends.

Injective will formally launch the first tokenized index for the BUIDL fund from BlackRock, which might be the next big thing in the asset tokenization process.

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Injective Live with Tokenized Index of BlackRock BUIDL Fund

The new product will facilitate access to BlackRock‘s first publicly available blockchain tokenized fund, BlackRock USD Institutional Digital Liquidity Fund, through on-chain financial instruments.

The BUIDL Index is a perpetual market tracker of BlackRock BUIDL fund supply, which is freely accessible through several Injective dApps, including Helix.

The tokens stay stable at $1 per token, accruing daily dividends that are paid out monthly. Fund assets include cash, U.S. treasury bills, and repurchase agreements, which have grown to over $500 million in the world’s largest tokenized fund to date.

Injective to Provide Global Access to BlackRock BUIDL Fund

Integrations with other DeFi protocols, such as Ondo Finance and Mountain Protocol, have complemented the success of the BlackRock BUIDL fund since its launch in March. Both use BUIDL as a backing asset for yield products on their platforms. Digital asset brokers FalconX and Hidden Road have utilized BUIDL as collateral assets for their institutional clients.

Injective’s release of the BUIDL Index underlines its growing position in the asset tokenization market. For its part, the chain has made a multitude of technical updates, including the implementation of the first RWA module and oracle, which have made it easier to build and manage new tokenized products.