BlackRock USD Institutional Digital Liquidity Fund (BUIDL)
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 82 → 72. Problems weighed by who is responsible: concerns that are not fraud −3.6, problems around the subject, caused by others −1.7; legitimacy credit long-running +2. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -3.6 |
| Problems around it, caused by others | -1.7 |
| Long-running | +2 |
| Sum | 62 |
Score: 72/100 (kept between 0 and 100)
How scoring works →Summary
BUIDL is a tokenized U.S. dollar money market fund managed by BlackRock and issued on public blockchains through tokenization platform and transfer agent Securitize. Launched on Ethereum in March 2024, it holds cash, U.S. Treasury bills, and repurchase agreements, is custodied by Bank of New York Mellon, and is offered as a private placement restricted to accredited/qualified institutional investors rather than as a retail SEC-registered security. It has grown into the largest tokenized U.S. Treasury fund by assets under management, but access, redemption, and transfer are gated by centralized whitelisting and freeze controls typical of permissioned real-world-asset (RWA) tokens.
Connected Entities
9 entities · 60 linked investigations- Ondo Finance→mentioned with→Solana(70%)
- Ondo Finance→mentioned with→Ethereum(80%)
- Optimism→mentioned with→Arbitrum(65%)
- Optimism→mentioned with→Ethereum(80%)
- BlackRock USD Institutional Digital Liquidity Fund (BUIDL)→mentioned with→Polygon(65%)
- BlackRock USD Institutional Digital Liquidity Fund (BUIDL)→mentioned with→Binance(80%)
- BlackRock USD Institutional Digital Liquidity Fund (BUIDL)→mentioned with→Arbitrum(65%)
- BlackRock USD Institutional Digital Liquidity Fund (BUIDL)→mentioned with→Optimism(65%)
- BlackRock USD Institutional Digital Liquidity Fund (BUIDL)→mentioned with→Ethereum(80%)
- BlackRock USD Institutional Digital Liquidity Fund (BUIDL)→mentioned with→Solana(65%)
- + 15 more
Connected Through
8 shared actors · 589 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- □Binanceorganization
- □Solanaorganization
- □Arbitrumorganization
Timeline(6 events)
20 March 2024
BlackRock launches BUIDL, its first tokenized fund, on the Ethereum network, with Securitize as tokenization platform and transfer agent, and Bank of New York Mellon as custodian.
Nasdaq / BlackRock11 April 2024
Circle announces a smart contract allowing BUIDL holders to convert tokens to USDC at 1:1 parity on a near-instant, 24/7 basis, providing an alternative to the standard next-business-day redemption process.
Circle press releaseDecember 2024
BUIDL expands with new share classes on Aptos, Arbitrum, Avalanche, Optimism, and Polygon, broadening multi-chain access beyond Ethereum.
PR NewswireFebruary 2025
BUIDL surpasses $1 billion in assets under management, becoming the largest tokenized fund tracking on-chain U.S. Treasuries.
The Block25 March 2025
BlackRock and Securitize launch a new BUIDL share class on Solana, coinciding with the fund's one-year anniversary and roughly $1.7 billion in cumulative issuance.
CoinDesk14 November 2025
BUIDL launches on BNB Chain and becomes eligible as off-exchange collateral on Binance via custody partner Ceffu.
PR NewswireDecision Log
- slot 457968537 · hash ARtpCfEJCZPmMSqmNtdURFjfHdvMd9B1yeREfsq2N95b
- slot 455370851 · hash 4q3YKhqir4o1vk6HVrRvESW9NzEFq59aynUSPcJqCviT
- slot 443523623 · hash Ans3WYo3ikq4pzfQqLCtEisPqSsS5y6VJiFeQCRc3EHD
- slot 443523619 · hash 66y1tqK7k4WSV3x8hdJCCgGZUjZqSa9QQrdqQboNPVdW
- slot 443501324 · hash CLoR8uanDdYMEpQJfGYqY8SWoJfQvcFx3mWZT2hGWvz4
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 15 of 15 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 7/22/2026, 3:58:38 AM
last updated: 10/10/2026, 6:50:36 PM
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