BlackRock hits record milestone in payouts

Core Insights - BlackRock has achieved a significant milestone with its first tokenized money market fund, distributing $100 million in payouts, highlighting the integration of traditional finance and decentralized finance [1][4]. Group 1: Fund Launch and Structure - In March 2024, BlackRock launched the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which invests in short-term, USD-denominated assets like U.S. Treasury bills [2]. - Tokenization involves using blockchain technology to digitally represent assets, allowing for fractional ownership for investors [2]. Group 2: Investor Benefits and Earnings - Investors trading BUIDL tokens earn dividend yields directly on-chain, receiving income generated from the underlying assets [3]. - The fund has paid out a total of $100 million in cumulative dividends since its launch, marking it as the first tokenized Treasury to reach this milestone [4][5]. Group 3: Fund Performance and Partnerships - BUIDL has a total asset value of $1.7 billion, indicating strong investor interest and confidence [5]. - BlackRock's partner, Securitize, manages the on-chain issuance and investor onboarding for BUIDL [4].