BlackRock's BUIDL retakes tokenized Treasury crown at $2.8 billion
BlackRock’s BUIDL fund has grown back to roughly $2.8 billion in assets and reclaimed its title as the largest tokenized U.S. Treasury product.
BUIDL is taking the lead back from Circle’s USYC. At the same time, Depository Trust & Clearing Corporation (DTCC) and NYSE owner Intercontinental Exchange (ICE) are moving their tokenization plans closer to launch.
What token occupies the top spot in the U.S. Treasury?
BUIDL, formally known as the USD Institutional Digital Liquidity Fund, has reclaimed its position as the lead in the U.S. treasury after it lost it to Circle’s USYC in March 2026.
The fund currently holds about $2.8 billion in assets, accounting for about 18.5% of a tokenized Treasury market that data trackers put at $15.1 billion. The remaining 81.5% is split among USYC and everyone else.
The overall market is slightly higher at $16 billion, up from $15 billion in recent weeks due to an increase in institutional demand. Franklin Templeton (NYSE: BEN) and Ondo Finance are among the newer names contributing to the increase.
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