BlackRock's BUIDL: A New Way to Earn on Crypto

BlackRock's BUIDL fund has done something big. It's handed out about $100 million in dividends since it started in March 2024. This fund is different. It's not like regular crypto stuff. It's more like a traditional money market fund, but it uses blockchain technology. The fund is worth over $2 billion now. It invests in safe things like U. S. Treasuries and cash equivalents. The cool part? It's regulated and uses tokens on public blockchains. It started on Ethereum but has spread to other networks too. This shows that people want ways to earn money on crypto that are safe and regulated.The $100 million in payouts is a big deal. It shows that blockchain finance can work at a big scale. More and more, tokenized money market funds are becoming popular. They're a safe alternative to stablecoins for big investors who want to earn money on their dollars. But there are some risks. Regulators are worried about things like how these funds work during tough times. Still, BUIDL is doing well. It lets big investors hold fund shares as blockchain tokens. The money they earn comes from the fund's investments and is paid out on the blockchain. BUIDL isn't just for earning money. It's also used in other ways. For example, it backs stablecoins like Ethena's USDtb and is used as collateral in trading. This puts BUIDL right in the middle of traditional finance and the new world of blockchain.