This $2.5 Billion BlackRock Fund Is Coming to Binance and BNB Chain

Core Insights - BlackRock's $2.5 billion USD Institutional Digital Liquidity Fund (BUIDL) is expanding its reach to Binance and BNB Chain, positioning itself as a tool for institutional traders [1][2] - The BUIDL fund, which debuted in March, has now expanded to eight blockchains, including the Binance-backed network, indicating a trend of integrating regulated real-world assets on-chain [2] - The fund currently has around 93 holders and offers an average yield of 3.7% on an annualized basis, reflecting the demand for interest-bearing assets among Binance's institutional clients [3] Company Developments - Securitize, the Miami-based firm behind BUIDL, is planning a public offering and has integrated BUIDL into Ceffu, a Binance-owned custody service [4] - The integration of BUIDL into Binance's services comes amid scrutiny from the U.S. Securities and Exchange Commission regarding asset control [4] - BlackRock's BUIDL fund signifies Wall Street's increasing acceptance of cryptocurrency exchange services and products [4] Market Context - BNB, the fifth-largest cryptocurrency by market cap, has seen a 3.4% decline recently, trading around $924, despite a 48% increase over the past year [5] - The cryptocurrency market has experienced volatility, with BNB reaching an all-time high of $1,370 last month before recent declines [5]