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BlackRock BUIDL
B+Multi-Institution (BNY Mellon + Securitize)DistributedAccredited Investors & Institutions
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) is the largest tokenized treasury fund with over $2.5B in AUM. The fund invests in US Treasury bills, repurchase agreements, and cash. Securitize serves as the tokenization and transfer agent, while BNY Mellon provides custodial services. BUIDL is deployed across Ethereum, Avalanche, Arbitrum, Optimism, Polygon, Aptos, and Solana.
80
Score Breakdown
Custody & Security35% weight
88
Ease of Use20% weight
65
Fees15% weight
72
Features10% weight
78
Transparency10% weight
85
Support10% weight
78
Assessment
Key Strength
Largest tokenized treasury fund ($2.5B+). BlackRock as asset manager, Securitize as tokenization agent, BNY Mellon as custodian. Daily NAV. Multi-chain deployment across 7 networks.
Primary Risk
Accredited investor requirement. Minimum investment reduced but still institutional-oriented. Smart contract risk on multiple chains. SEC-registered but novel structure.
Pros
- +BlackRock brand and AUM scale
- +Multi-institution custody chain
- +Broadest multi-chain deployment
- +Daily yield accrual
- +SEC-registered fund
Cons
- -Accredited investor requirement
- -0.50% management fee
- -Complex redemption process
- -Smart contract risk across multiple chains
Custody Features
✕Multisig
Multi-Institution
No Single Point of Failure
Segregated Accounts
Proof of Reserves
Insurance
Regulated Custodian
No Physical Exposure
✕Multi-Jurisdiction
✕Inheritance
✕Segregated Insurance
✕IRA
✕Lending
Buy/Sell
✕Dynasty Trusts
Fees
0.50% management fee
Minimum$100K (via Securitize)
Security
Key Management
Institutional custody (BNY Mellon) + Securitize smart contracts
SOC Compliance
SOC 2 Type 2 (Securitize)
Penetration Testing
Insurance & Regulatory
✓Qualified Custodian
Jurisdiction
United States (BVI fund structure)
Licenses
SEC-Registered Fund, Securitize: SEC Transfer Agent + FINRA Broker-Dealer
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