Treasury & money marketActive

BlackRock USD Institutional Digital Liquidity Fund

Value (USD)$2.25B2026-09-30

Wallet holders1062026-09-30

Minimum investmentUSD 5,000,000 initial (USDC or USD)

Yield—Unverified

Overview

BUIDL is a private fund managed by BlackRock whose shares are issued as tokens, with Securitize acting as transfer agent and placement agent. The fund targets a stable $1.00 value per token and holds cash, US Treasury bills and repurchase agreements. It is offered only to qualified purchasers under US private-placement exemptions, and tokens can move only between pre-approved wallets.

100% of total assets in cash, US Treasury bills and repurchase agreements

Product structure

Lowest eligible investor type: US qualified purchasers

US persons: Accepts US persons

Investor eligibility: Qualified purchasers / qualified investors onboarded and whitelisted via Securitize Markets

Classification of public offering terms, not a determination of your eligibility. Check the offering documents.

Legal wrapper: Private fund (British Virgin Islands) relying on Investment Company Act Section 3(c)(7)
Domicile: British Virgin Islands
Regulatory status: Not SEC-registered; shares offered under Rule 506(c) of Regulation D (Securities Act of 1933) and Section 3(c)(7) of the Investment Company Act
Asset segregation: Unverified
Custodian: The Bank of New York Mellon
Fund administrator: The Bank of New York Mellon
Auditor: PricewaterhouseCoopers LLP
Transfer agent: Securitize (maintains tokenized share register and reports subscriptions, redemptions, distributions)
Tokenization agent: Securitize (transfer agent and tokenization platform; Securitize Markets, LLC as placement agent)
Proof of reserve: Unverified

Redemption & liquidity

Redemption terms: Daily subscription and redemption; minimum redemption 250,000 USDC per rwa.xyz. Since April 2024 a Circle smart contract lets holders exchange BUIDL for USDC near-instantly, 24/7.
Secondary liquidity: Transferable 24/7 only to other pre-approved (whitelisted) investors; Circle USDC off-ramp smart contract
Yield mechanism: Distribution: dividends accrue daily and are paid monthly as newly minted tokens to holders' wallets

Fees

Management fee 0.20%-0.50% depending on chain (reported Nov 2024: 0.50% on Ethereum, Arbitrum, Optimism; 0.20% on Aptos, Avalanche, Polygon); 0% subscription/redemption fees per rwa.xyz

On-chain information

EthereumSolanaAvalanche C-ChainAptosBNB ChainOptimismArbitrumPolygonTempo

Token standard: ERC-20 on EVM chains; BEP-20 on BNB Chain; Token-2022 on Solana; Aptos FA on Aptos
Transfer restrictions: Whitelist/KYC-gated; transfers only between pre-approved investors

Contract addresses: unverified

Notes & material events

Management fee varies by chain; lower fees on some chains are subsidised by chain ecosystem organisations paying BlackRock a quarterly fee (per Nov 2024 report). Holder count reflects on-chain wallets per rwa.xyz. Full legal entity name in offering documents not publicly verified.

Revision history

No published revisions.

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