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💵Weekly Recap: BlackRock Drives Surge in RWAs

Tokenized U.S. treasury assets dominated the crypto news narrative this week, with the sector’s capitalization surging to an all-time high of more than $1 billion.

The bullish momentum follows the launch of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) on Ethereum last week. The tokenized fund from the world’s largest asset manager has already mopped up an impressive $275 million since going live to rank as the second-largest on-chain U.S. Treasuries fund.

In related news, Ondo Finance pledged to allocate assets backing its $88.5 million Short-Term US Government Bond Fund (OUSG) to BUIDL. Also, in real-world assets (RWAs) news, Anemoy, a Centrifuge-native asset manager offering exposure to tokenized treasuries, expanded onto Celo.

The buzz surrounding tokenized treasuries comes as the broader market for on-chain RWAs is booming, with the combined capitalization of RWA governance tokens rallying more than 60% over the past seven days.