MV Capital - BlackRock’s BUIDL Fund Surges Past $900 Million on Avalanche

BlackRock’s tokenized money market fund BUIDL reached over $900 million in assets on Avalanche after adding $436 million in one week, marking a 105% increase and boosting total fund assets near $2.87 billion across networks

Rapid Growth on Avalanche

BlackRock’s BUIDL fund, launched in March 2024, has recorded substantial gains on the Avalanche blockchain. Data from RWA.xyz shows the fund’s assets under management on Avalanche exceeded $900 million following a $436 million addition over seven days.

This weekly rise represents a 105% increase for the Avalanche portion of the fund. The development places Avalanche as a major holder for BUIDL, second only to Ethereum according to recent figures.

Key FiguresBUIDL on Avalanche: over $900 million
Weekly addition on Avalanche: $436 million
Weekly growth rate: 105%
Total BUIDL AUM across networks: approximately $2.87 billion

BUIDL Fund Structure and Operations

BUIDL operates as a tokenized money market fund that provides access to U.S. Treasury bills, cash, and repurchase agreements. The fund maintains a target net asset value of $1 per share and delivers daily accrued dividends to eligible investors through on-chain tokens.

BlackRock launched the fund via the Securitize platform. It initially operated on Ethereum and later expanded to additional networks including Avalanche. BNY Mellon handles administration, combining traditional and digital systems for compliance and custody.

“BUIDL experienced a $436 million increase on Avalanche within seven days, marking a significant weekly gain for this tokenized money market product.”Wu Blockchain

The fund targets institutional participants with controlled access, focusing on qualified investors rather than broad retail participation. Current holder count stands at around 113 wallets despite the large asset base.

Avalanche’s Position in Tokenized Assets

Avalanche has emerged as a notable network for real-world asset tokenization. Recent RWA.xyz data indicates over $2.10 billion in distributed real-world asset value on the chain, with BUIDL representing a substantial share.

The network supports multiple institutional products alongside BUIDL, including offerings from other asset managers. Its technical features, such as high transaction speeds and scalability, contribute to its appeal for regulated financial applications.

Additional Institutional Activity on Avalanche

In parallel developments, Japanese digital securities platform Progmat completed migration of its projects to a dedicated Avalanche layer-1 subnet. The move involved assets totaling over 452 billion yen, with 45 publicly disclosed security token deals valued above 231.3 billion yen now operating in an EVM-compatible environment.

Progmat’s initiative, known as Project Keystone, introduced a Mediator layer for greater flexibility and improved settlement times under two seconds for certain operations.

Metric	Value
BUIDL Avalanche AUM	$900M+
BUIDL Total AUM	$2.87B
Progmat Migrated Value	452B+ yen
Progmat Public ST Deals	45 (231.3B+ yen)

Broader Context of Tokenized Treasuries

Tokenized U.S. Treasuries have expanded significantly in recent years. Industry figures show growth from hundreds of millions in earlier periods to over $13 billion by April 2026 across various platforms. BUIDL stands as one of the larger products in this category.

The fund’s multi-chain approach allows approved investors to select networks based on their operational needs for transfers and settlement. This structure supports efficiency while maintaining regulatory standards for custody and investor protections.

Market data indicates continued interest in on-chain Treasury products, with BUIDL’s performance on Avalanche drawing attention to the network’s infrastructure capabilities.