BlackRock’s Institutional Digital Liquidity Fund AUM Reach $375M

According to data from Dune Analytics, BlackRock’s USD Institutional Digital Liquidity Fund has reached $375 million in assets under management.

This exceeds the assets under management of its nearest competitor, Franklin Templeton’s FOBXX, by nearly $8 million.

The FOBXX fund, which utilizes the Polygon and Stellar blockchains, currently holds assets of over $368 million as of April 30.

FOBXX’s website states that the fund primarily invests in US government securities, cash, and repurchase agreements collateralized by US government securities.

Its goal is to provide a high level of current income while also preserving shareholder capital and maintaining a stable $1 share price.

BlackRock launched BUIDL, the USD Institutional Digital Liquidity Fund, in partnership with real world asset tokenization company Securitize in March.