BlackRock BUIDLRWA-002MODERATE6.0
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Issuer Intelligence Profile · RWA-002

BlackRock BUIDL

Atlas Verdict

Among the strongest institutionally structured tokenized treasury products currently available, with exceptional legal clarity, top-tier service-provider quality, and high verification coverage. The main diligence consideration is not whether the structure is credible, but how much operational concentration exists across Securitize, BNY Mellon, and off-chain reporting layers.

BlackRock BUIDL represents the world's largest tokenized Treasury fund, managing $2.8B+ in US Treasury bills and repurchase agreements on Ethereum. Issued by BUIDL Treasury Fund LLC and administered through Securitize's regulated platform, BUIDL provides institutional investors yield-bearing exposure to short-duration government securities via ERC-20 tokens. The fund targets accredited US investors and qualified institutions, offering daily subscription/redemption with same-day settlement through USDC. BNY Mellon serves as primary custodian for underlying securities.

AUM / Size$2.5B+
Risk Score3.4
Verification6.0
BadgeATLAS MONITORED
Risk3.4
Transparency9.5
Verification6.0
TREASURY / MONEY MARKETATLAS MONITOREDTokenized Treasuries
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Risk LevelMODERATE
CategoryTokenized Treasuries
JurisdictionUnited States
Chain Footprint1 Chain

Issuer Identification

Live Atlas SectionS0Updated 2026-03-30 11:39:18.018+00

Issuer ID: RWA-002 | Legal Issuer: BUIDL Treasury Fund LLC | Parent: BlackRock Inc. (NYSE: BLK) | Asset Class: TREASURY | Structure: Tokenized Money Market Fund; ERC-20 Token | Jurisdiction: United States | Launch: March 2024 | Primary Chain: Ethereum | Investor Access: ACCREDITED / INSTITUTIONAL | Regulatory: EXEMPT FUND / RULE 506(c) | Transparency: HIGH DISCLOSURE

Issuer Overview

StructureTokenized fund
Asset ClassTREASURY / MONEY MARKET
Investor TypeInstitutional
Min Investment$5M subscription / $250K redemption minimum
Token StandardERC-20 Compatible Security Token
Coverage StatusLive sections synced • 2026-03-30 15:46:14.776+00

Chain Infrastructure

Chain Footprint1 Chain
Chain Count1 chain
All Deployed Chains
ethereum

Market Position

Live Atlas SectionS12Updated 2026-03-30 15:44:55.324+00
BUIDL holds the commanding lead in tokenized Treasury funds with $2.8B AUM, representing ~40% of the sector. BlackRock leverages its $10.5T global AUM and institutional relationships to dominate distribution, targeting both TradFi institutions seeking blockchain exposure and crypto-native funds requiring yield-bearing collateral. Primary competitors include Franklin OnChain U.S. Government Money Fund ($380M AUM) and Ondo Finance's OUSG ($200M AUM). BlackRock's competitive advantages include brand recognition, regulatory credibility, and exclusive partnership with Securitize for tokenization infrastructure. The fund targets minimum investments of $5M, focusing on institutional allocators rather than retail. Distribution occurs through both traditional prime brokerage channels and crypto market makers like Cumberland DRW and Jump Trading, creating unique cross-ecosystem positioning.
Atlas ClassificationFully regulated on-chain treasury fund backed by BlackRock
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