- BlackRock’s BUIDL fund expands to Solana, making it the largest home for yield-bearing tokenized treasuries with lower transaction costs.
- Solana’s network scalability and developer growth drive institutional adoption as Polymarket enables SOL deposits on its prediction market platform.
- SOL price surges to $144 after BUIDL’s expansion, signaling increased institutional confidence despite trading volume stabilizing at $3.35 billion.
BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has expanded to the Solana blockchain, marking a significant milestone in the tokenized treasury sector. According to a press release, this move makes Solana the largest home for yield-bearing tokenized treasuries.
One year after launching BUIDL, BlackRock and Securitize have introduced a new share class on Solana. This expansion allows BUIDL investors to utilize the fund across Solana’s growing ecosystem. Securitize emphasized the lower transaction costs and instant settlements that Solana offers.
Securitize CEO Carlos Domingo stated that integrating BUIDL with Solana aligns with the market’s momentum toward real-world assets (RWA) and tokenized treasuries. He highlighted Solana’s speed, scalability, and efficiency as key advantages.
Solana’s Role in Institutional Adoption
Lily Liu, president of the Solana Foundation, noted that Solana provides BUIDL with a balance of innovation and operational efficiency. She pointed to Solana’s increasing network metrics and active developer community as factors driving institutional adoption.
BUIDL currently manages $1.7 billion in assets under management (AUM), positioning itself ahead of competitors like Fidelity’s Treasury Digital Fund, which is planning an on-chain share class on Ethereum.
Numerous financial institutions use Solana to deliver better services to their clientele. People using Polymarket’s decentralized prediction market platform can now deposit Solana tokens among multiple payment choices, which previously included only USDC stablecoins from Circle.
The market shows growing demand for Solana-based exchange-traded funds (ETFs) while the announcement takes place. Research analysts see this pattern as increasing proof of confidence from institutions regarding blockchain infrastructure.
Following BUIDL’s expansion, Solana’s native cryptocurrency SOL is trading at $144. The development has fueled speculation about a potential shift in market dominance. However, trading volume has adjusted to $3.35 billion after an initial surge tied to Polymarket’s integration.
