The Financial Management -Behemoth Blackrock took another step in its approach to blockchain by founding a fund for large customers in the Solana network. Fortune reports that this fund called USD institutional digital find (Buidl) is available on seven different blockchain platforms.
Solana & Blackrock: Pionier crypto markets
Blackrock, which manages assets of 11.6 trillion dollars, has slowly entered the world of cryptocurrency and blockchain. Since its launch in March 2024, Buidl has already collected assets of 1.7 billion US dollars. Experts believe that the fund could reach 2 billion US dollars by April.
Expansion to a strategic network
Solana is attractive because it quickly carries out transactions and calculates low fees. This blockchain provides investors constant access to regular financial instruments. Michael Sonnenhein, the coot of securitization, says that this way of doing things makes it easier and more convenient for means such as government bonds.
The institutions are here.
Today @Securitic Started the biggest Rendite-Songing trasury Fund (USD 1.7 billion), Buidl, on Solana.
BUIDL is exhibited by Blackrock – the world’s largest asset manager. More from Fortune: https: //t.co/pfrr341kv
– Solana (@solana) March 25, 2025
“We make them undeveloped,” Sonnenhein told Fortune. “We present and skip some of the deficiency that the money markets could have in their traditional formats.”
Blackrock brought his Bitcoin ETP to Europe on Tuesday. It announced that it would start on Xetra and in Euronext Paris and Amsterdam.
SOL market cap currently at $73 billion. Chart: TradingView.com
Accept trends in the design of global investments
Franklin Templeton also entered the blockchain scene by launching a monetary fund for Solana in February. This shows that larger financial groups are interested in using blockchain for investment products.
In addition to the execution of funds on blockchain, Blackrock has set up Bitcoin and Ethereum Exchange Fund (ETFs) in the USA, Canada and Europe. CEO Larry Fink believes that blockchain will be important for future financial instruments.
SOL price up following the news. Source: Coingecko
The company seems to have shifted its focus on the tokenization of assets after the breakthrough. The next big thing is the next big thing, said Fink.
Buidl is now part of blockchain networks such as Ethereum, Optimism, Aptos, Avalanche, Arbitrum and Polygon. The fund supported by cash and financial exchanges offers great investors a new way to invest with regular financial methods.
Blackrock’s efforts to merge blockchain with everyday financial products is clear with already invested 1.7 billion US dollars and shows strong interests of investors on these new financial instruments.
The selection of Solana shows the growing trust in the ability of this blockchain to manage many transactions quickly and inexpensively. This makes it a suitable option for large financial companies that are looking for innovative investment methods.
Selected picture of Gemini Imageen, Diagram from Tradingview
Editorial process Because Bitcoinist focuses on delivering thoroughly researched, accurate and impartial content. We comply with strict procurement standards and each page is diligently checked by our team of top technology experts and experienced editors. This process ensures the integrity, relevance and the value of our content for our readers.