The BUIDL token, issued as shares on the Ethereum blockchain, is based on the ERC-20 token standard. This token enables participants to invest in the fund, which focuses on short-term financial instruments such as U.S. Treasury bills, signaling a shift towards digitizing traditional financial assets. BlackRock’s iShares Bitcoin Trust, a significant spot Bitcoin ETF, currently holds over $18.5 billion.
Through a new partnership with Circle, the investment management fund aims to enhance the functionality and appeal of BUIDL. In recent weeks, Circle has pursued various strategic initiatives to expand its presence in the blockchain industry. Additionally, it has collaborated with Solana to integrate its cross-chain transfer protocol into the Solana blockchain ecosystem.