BlackRock’s BUIDL Fund Quickly Rakes in $245M, Right Behind Franklin Templeton’s FOBXX

BlackRock’s BUIDL token on the Ethereum blockchain, created with asset tokenization platform Securitize, represents investment in a fund that holds U.S. Treasury bills and repo agreements. Its price is pegged to $1, and holders receive a yield from the underlying assets paid in the token. The offering is targeted to large institutional investors.