InstitutionsActive· US

BlackRock

BUIDL opened the door. Circle walked through it. Whoever wins the stablecoin and exchange-collateral rails wins tokenized treasuries.

blackrock.com ↗#buidl#asset-manager#institutionalStale, re-verify May 13, 2026
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Brief

World's largest asset manager, $15.3T AUM at June 30, 2026 (Q2). BUIDL pioneered the tokenized treasury category. Live on Ethereum, Avalanche, Arbitrum, Aptos, BNB Chain, Optimism, Polygon, and Solana. Tradable on Uniswap, accepted as collateral on Binance, reserve asset in Ethena's USDtb stack.

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Primary sources

Checks cover the claims listed below. Other details may still need review.

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Recent activity

Latest moves on the changelog feed.

  • Aug 4, 2026WIRED

    BlackRock → Kinexys. OnChain share classes for six European ICS money market funds, minted on Ethereum through Kinexys by J.P. Morgan.

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Snapshot

Key terms and identifiers.

Asset classes
Treasuries
Regulatory
sec-reg-d, sec-spot-etf, dtcc-settlement-2026
Jurisdiction
US
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Milestones

How this player got here.

  1. Aug 2026BlackRock → Kinexys. OnChain share classes for six European ICS money market funds, minted on Ethereum through Kinexys by J.P. Morgan.
  2. Feb 2026BUIDL tradable on Uniswap via approved market makers
  3. Jan 2026Overtaken by Circle's USYC as largest tokenized treasury fund
  4. Nov 2025BUIDL launched on BNB Chain and accepted as Binance institutional collateral
  5. Jan 2025BUIDL crosses $1B AUM
  6. Jul 2024Spot Ethereum ETF approved
  7. Mar 2024BUIDL tokenized fund launched
  8. Jan 2024Spot Bitcoin ETF approved (iShares)
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Connections

Who they build with, build on, integrate with.

Flow

Capital, products, and distribution moving outward.

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