Ethena invests $200 million to push BlackRock BUIDL fund assets above $1 billion

According to TechFlow, on March 14, CoinDesk reported that the BUIDL token, a U.S. Treasury-backed token issued by global asset management giant BlackRock in cooperation with Securitize, has exceeded $1 billion in assets. A spokesperson for Securitize revealed that the $200 million invested by the crypto protocol Ethena that afternoon pushed the fund size beyond this milestone.

As the core reserve asset of multiple yield-generating products, BUIDL is increasingly being used as collateral on trading platforms. It is the main reserve asset for Ethena's yield-generating USDtb token, and the current USDtb supply has reached $540 million. The value of USDtb is supported by USDC and USDT stablecoins and BUIDL tokens worth approximately $320 million.

"Ethena's decision to expand USDtb's investment in BUIDL reflects our deep belief in the value of tokenized assets and the important role they will continue to play in modern financial infrastructure," said Guy Young, founder of Ethena.