BlackRock's BUIDL Pushed Avalanche's Tokenized Asset Total Past $1.16B

BlackRock's BUIDL fund, the largest tokenized U.S. Treasury product on-chain, has become the single biggest real-world asset on Avalanche after a multi-hundred-million-dollar allocation that drove the network's distributed RWA total to a record $1.16 billion in late May, with the BUIDL position alone accounting for roughly $625 million of that figure as of May 25.

The $2.85 billion BUIDL fund, which is run by BlackRock with Securitize as tokenization partner, held $624.87 million on Avalanche on the May 25 snapshot, more than half of Avalanche's distributed RWA market and ahead of the second-largest position,

Janus Henderson's Anemoy AAA CLO Fund at $258.99 million, data from RWA.xyz show. DefiLlama, which tracks Avalanche's RWA TVL on a different methodology, shows BUIDL on Avalanche at $414.4 million on Tuesday, after the position spent most of late May above $600 million.

Avalanche RWA TVL on the network rose 58.4% over the two weeks to May 25, per data shared by Avalanche.

The allocation reorders Avalanche's place in the institutional tokenization league table. Avalanche is the 12th-largest chain by total DeFi TVL at $563 million, per DefiLlama, but on tokenized-RWA distribution it now trails only Ethereum among permissionless networks, a separation driven entirely by the fact that BUIDL investors are picking Avalanche, not by the chain's broader DeFi activity.

"Tokenization may enable greater access and utility, so I'm thrilled to see the Avalanche platform supporting the BlackRock USD Institutional Digital Liquidity Fund," John Wu, President of Ava Labs, said in a November 2024 announcement marking BUIDL's initial Avalanche launch.