Ethereum
Investors in BlackRock’s BUIDL fund receive $1.7 million in monthly dividends on Ethereum
Ondo Finance’s crypto wallet, labeled on Etherscan as “OUSD Instant Manager,” is the largest beneficiary of BUIDL’s monthly dividend, receiving approximately 42% of the total pot.
“BUIDL is the largest tokenized fund, offering US dollar returns to its holders,” Securitize wrote on X.
(Shutterstock/Michael Vi)
Published June 4, 2024 at 2:15 p.m. EST.
BlackRock Securitize tokenization platform and transfer agent revealed BlackRock’s USD Institutional Digital Liquidity (BUIDL) fund paid out nearly $1.7 million in monthly dividends to its holders on Ethereum on Monday, an increase of about 38% from $1.2 million in last month. the preceding month.
The Wall Street heavyweight’s payment on Monday appears to have happened thanks to a transactionwhich had a network fee of just over 0.034 ETH, worth approximately $131.55, where 11 wallet addresses received an average of 151,735 BUIDL tokens, according to Explorer on-chain data of Etherscan blockchain.
One address, which starts with 0x568, received 20,802 BUIDL tokens, the least among the cohort of receiving wallet addresses, while one of Ondo Finance’s crypto wallets labeled on Etherscan as “OUSD Instant Manager”, appears to be the largest recipient, securing 700,280 BUIDL. tokens, or about 42% of the total dividend pot this month. Ondo Financea tokenized RWA platform, currently holds 49,999,999 BUIDL tokens, making it the fourth largest holder in the fund.
“BUIDL is a fundamental asset in the development of a variety of new financial products, as we have seen Ondo and others use BUIDL as the foundation of their core product,” said Jamie Finn, co-founder and president of Securitize, in an email to Unchained. . “Tokenization is currently in a massive growth phase with many new RWAs coming to market.”
The total value of all tokenized cash product tokens circulating in the crypto ecosystem currently stands at $1.45 billion, an increase of over 12.5% since the beginning of May. BlackRock’s BUIDL fund, which has a market capitalization of $462.5 million, represents almost a third of the current total value, according to data from the real-world asset analytics platform. rwa.xyz.
Learn more: What are tokenized treasures? A beginner’s guide
Seven-figure payment comes two months later Securitize Markets submitted an application “on behalf of BlackRock” be a service provider for Arbitrum’s Stable Treasury Endowment Program (STEP), which aims to diversify 35 million ARB tokens into real-world assets backed by Treasury bills and money market instruments.
BlackRock’s activity on-chain and in governance forums highlights how institutional presence has since evolved from mere interest to active participation in the crypto ecosystem.
When contacted for comment, Blackrock declined due to restrictions placed on its communications around BUIDL.
