BlackRock’s $13 trillion asset manager is broadening access to its BUIDL tokenized money market fund, pushing it onto new blockchain networks and integrating it with decentralized finance platforms. The fund, which launched in 2025, has already accumulated $2.4 billion in assets under management as of February 2026.

BUIDL goes multichain and into DeFi

BUIDL, BlackRock’s first tokenized money market fund, was designed exclusively for accredited investors. It holds short-term government debt and pays a modest yield, with shares living on a blockchain instead of in a brokerage account.

Tokenized fund shares can settle transactions almost instantly instead of waiting the standard one to two business days. They can be traded around the clock. And they can be used as collateral in DeFi protocols, something that’s physically impossible with a traditional fund share.

BlackRock has expanded BUIDL’s reach beyond its original blockchain home, making the fund accessible on BNB Chain and Solana. The firm has also partnered with Securitize and Uniswap Labs to enable on-chain trading of BUIDL. Integration with DeFi lending platform Euler further extends BUIDL’s utility, allowing the tokenized shares to be used as collateral for borrowing or as a yield-bearing asset within lending pools.

Tokenized ETFs and staked Ethereum on the horizon

BlackRock is also exploring tokenized ETFs. The current ETF creation and redemption process involves authorized participants, transfer agents, custodians, and settlement windows that can stretch across days. Tokenized ETFs could compress that entire process into near-real-time transactions on a blockchain.

BlackRock has signaled that tokenized ETF capabilities could begin rolling out in late 2025 or early 2026.

Separately, BlackRock is pursuing a staked Ethereum ETF, which would allow investors to earn proof-of-stake rewards through a regulated fund structure. Staking rewards currently offer a yield in the mid-single digits. The product is pending regulatory approval.

The bigger picture for real-world asset tokenization

The tokenized real-world asset sector has been growing, with US Treasuries, corporate bonds, and private credit being brought on-chain by firms like Franklin Templeton, Ondo Finance, and Securitize. Securitize has positioned itself as the infrastructure layer for institutional tokenization, handling compliance, issuance, and transfer agent functions for tokenized securities, and plays a central role in BUIDL’s distribution.

What this means for investors

The risks are worth watching. Regulatory clarity around tokenized securities remains incomplete. Staking ETFs face specific hurdles around how the SEC views staking rewards. And smart contract risk inherent in DeFi integrations doesn’t disappear just because BlackRock’s name is on the fund.

BlackRock managing $2.4 billion in a tokenized fund is still a rounding error relative to its $13 trillion in total assets. Every new blockchain integration and DeFi partnership — BNB Chain, Solana, Uniswap, Euler — is part of building the infrastructure to move significantly more capital on-chain.