BlackRock and Securitize launched the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) on Ethereum, showcasing integration of crypto with traditional finance.

The BUIDL fund, backed by cash, U.S. Treasury bills, and repurchase agreements, began with $100 million seed funding from BlackRock and is now the second-largest in its class.

The move is a significant endorsement of Ethereum's network and is expected to boost confidence in blockchain technology's use in institutional finance.

Ondo Finance has allocated $95 million to BUIDL, indicating growing institutional interest and potential for increased capital influx into the Securitize ecosystem.

This initiative is poised to influence the U.S. regulated tokenization market and may establish new standards for regulated venues and issuer structuring strategies.