BlackRock USD Institutional Digital Liquidity Fund
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What is BlackRock USD Institutional Digital Liquidity Fund?
Fund launch and management
BlackRock launched BUIDL on Ethereum in March 2024 with Securitize. BlackRock Financial Management manages the investment portfolio. Securitize records tokenized ownership and administers subscriptions, redemptions and distributions as transfer agent. BNY Mellon was appointed custodian and fund administrator at launch. The token represents a fund investment rather than a blockchain-governance allocation.
Portfolio and income
The fund invests in cash, US Treasury bills and repurchase agreements. Its structure targets a one-dollar value for each token. Income accrues daily and is distributed to investors as additional tokens under the fund's dividend arrangements. Subscriptions create shares, while redemptions remove them from circulation. The outstanding token quantity follows fund activity rather than a predetermined cryptocurrency supply cap.
Blockchain access
Participation is restricted to qualified investors who complete the required onboarding. Transfers can take place between approved investor addresses around the clock. Additional share classes extended the product to networks including Aptos, Arbitrum, Avalanche, Optimism and Polygon. Solana access was announced in March 2025. Wormhole provides interoperability between supported deployments, while fund eligibility rules continue to govern ownership.
Where to trade BUIDL
Exchanges that list this asset
Live spot quotes from connected exchanges
BUIDL funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.