BlackRock BUIDL Fund Accumulates $11M USDC Stablecoins From Circle
Highlights
- BlackRock BUIDL bags $11M of USDC.
- The transaction pushes the USDC holdings to $88 million.
- A brief report on BUILD and recent market activity.
BlackRock’s BUIDL (BlackRock USD Institutional Digital Liquidity) Fund has once again captured noteworthy attention with its massive stablecoin accumulation today. On-chain insights indicated that the tokenized fund of one of the leading asset managers bagged a whopping $11 million worth of USDC from Circle, the stablecoin giant. This accumulation has set off a flurry of discussions across the broader market, with the BUIDL Fund address’ holdings evaluating above $88 million while writing. So, let’s take a closer look at the fund’s latest market stats.
BlackRock BUIDL Fund Bags USDC
According to the data revealed by Arkham Intelligence, the BlackRock BUIDL Fund address ‘0x13e’ received 11 million USDC from Circle hot wallet 0x55F today. This transaction has pushed the total USDC holdings of the address to $88.16 million.
Meanwhile, the address’ other holdings included MOG, COLLE, and Shina Inu, among many others coins. Nevertheless, the lion’s share belonged to the stablecoin USDC, as the total value of assets held by the address capped in at $88.33 million.
The USDC accumulation by the fund appears to align with Circle’s facilitation of seamless tokenization services to BUIDL investors. Further, recent data from Dune analytics revealed that BUIDL holders have spiked in recent days. The number of holders totaled 19 at press time, whereas the USDC redeemable fund was evaluated as $77.40 million.
Also Read: Shiba Inu Coin: 140M SHIB Burnt Weekly Projects Optimism, $0.0000369 Possible?
More About The Tokenized Fund
The Blackrock BUIDL Fund was launched in March this year, showcasing the asset manager’s venture into the tokenization domain via the Ethereum network. Primarily, with the help of the Ethereum blockchain, the fund invests in cash, short-term debt securities, and U.S. Treasury bonds.
Meanwhile, it’s also worth mentioning that roughly two weeks ago, the fund address was recorded as receiving another 11 million USDC from the same Circle hot wallet.
Also, it’s worth mentioning that in light of the recent Ethereum ETF launch, the BlackRock Ethereum wallet received colossal amounts of ETH from Coinbase, another crypto trading giant.
Also Read: Render Price Soars As Binance Announces Trading Services
- Breaking: Trump To Meet China’s President On October 30, Bitcoin Bounces
- Breaking: Trump Pardons Binance’s Changpeng “CZ” Zhao, BNB Spikes
- Peter Schiff Challenges Binance Founder CZ to Debate as Bitcoin Vs. Gold Rivalry Heats Up
- Robinhood Lists HYPE As Hyperliquid Flips CZ Backed Aster In Perp DEX Volume
- Expert Warns More Crypto Bloodbath Ahead of CPI Data Tomorrow
- Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide
- Solana Price Prediction as Osprey’s S-1 Filing and Hong Kong’s ETF Launch Fuel Reversal Hopes- Is $250 Next?
- Ethereum Price Poised for Breakout as Wyckoff Re-Accumulation Meets BlackRock’s $110M Purchase
- BNB Price Prediction as Analysts Eye $1500 Ahead of Fresh Coinbase and Robinhood Listings
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
