BlackRock’s BUIDL reached two institutional milestones at the end of December 2025, surpassing $100 million in lifetime dividend distributions and $2 billion in assets under management (AUM). These markers were confirmed by Securitize underline the growing traction of tokenized cash products in institutional portfolios.
The BlackRock USD Institutional Digital Liquidity Fund, branded BUIDL, reached the $100 million cumulative dividend payout on December 29, 2025, according to Securitize, and one day later reports indicated AUM topped $2 billion.
The fund invests in short-duration, low-risk instruments such as U.S. Treasury bills, repurchase agreements and cash equivalents and targets an approximate annual percentage yield of 4%–5%. Dividends accrue daily and are distributed monthly to investors’ wallets as additional BUIDL tokens, providing an on-chain, yield-bearing experience for qualified holders.
BUIDL has been positioned as a regulated, tokenized alternative to traditional dollar stablecoins for institutions, offering features such as instant settlement and 24/7 accessibility, according to industry reports.
The fund’s tokens have seen utility beyond passive holdings: they are used as collateral in trading and financing arrangements and as backing assets for stablecoins including Ethena’s USDtb and Mountain Protocol’s wUSDM. BUIDL is available across multiple blockchains — Ethereum, Solana, Aptos, Avalanche and BNB Chain — enhancing interoperability with decentralized finance infrastructure.
Market role and integrations of BlackRock’s BUIDL
Data from October 2025 show the fund previously peaked above $2.8 billion in AUM, illustrating both rapid growth and volatility in on-chain demand for tokenized cash products. This dual dynamic — significant inflows coupled with fluctuations in AUM — matters for counterparties that rely on BUIDL as collateral or liquidity backing.
Industry observers cited the $100 million payout milestone as evidence that blockchain-based instruments can scale to institutional needs. For market participants, BUIDL’s structure offers faster settlement and transparent on-chain activity; for integrators, its cross-chain deployments reduce friction for protocols and custodians. However, using tokenized fund shares as collateral concentrates exposure to the fund’s liquidity and redemption mechanics, a risk counterparties must monitor.
BlackRock’s BUIDL reaching $100 million in cumulative dividends and $2 billion in AUM signals a substantive step in the tokenization of short-term, regulated dollar assets and reinforces its role in on-chain liquidity and collateral ecosystems. The development demonstrates operational viability but also highlights concentration and liquidity dynamics that users and counterparties should track.
