BlackRock’s BUIDL Fund Goes Mainstream with Solana Blockchain

The world’s largest asset manager has expanded its tokenized money market fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), to the Solana blockchain. This move, announced today, marks a significant step in BlackRock’s ongoing integration of blockchain technology into traditional finance, in collaboration with its tokenization partner, Securitize.

Initially launched on Ethereum in March 2024, BUIDL has now extended its reach to multiple blockchains, including Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet, Polygon, and, most recently, Solana.

With a current market capitalization exceeding $1 billion, BUIDL remains the largest tokenized money market fund on a public blockchain, offering investors a stable $1 value token backed by cash, U.S. Treasuries, and repurchase agreements. The expansion to Solana, known for its high-speed and low-cost transactions, underscores BlackRock’s strategy to enhance accessibility and efficiency in the tokenized asset space.

This follows a trend among major financial players, such as Franklin Templeton, which added its own money market fund to Solana in February 2025. BlackRock’s decision is seen as a response to the rising institutional interest in Solana, which has seen its tokenized treasury market grow to over $123 million in Q3 2024.