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Home»Crypto»BlackRock’s Cryptocurrency Fund to Launch on Surprise Altcoin Network
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BlackRock’s Cryptocurrency Fund to Launch on Surprise Altcoin Network

November 7, 2024No Comments1 Min Read
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BlackRock’s BUIDL fund, previously deployed on Ethereum, is now also live on Avalanche (AVAX).

Securitize, the digital platform managing the fund, has begun operating BlackRock’s yield-generating BUIDL fund on the Avalanche blockchain, as per the latest onchain data.

The BUIDL fund, initially launched on Ethereum, offers US dollar returns to qualified investors through a blockchain-based subscription provided by Securitize Markets, LLC.

Investors can hold a fixed value token worth $1 with daily accrued dividends paid directly to their wallets. The fund maintains liquidity by investing in cash, U.S. Treasury bonds, and repurchase agreements.

BlackRock’s decision to tokenize the fund aims to enhance investor access, promote transparent reconciliations, and facilitate seamless transfers between platforms.

*Please note that this information is not investment advice.

Altcoin BlackRocks Cryptocurrency fund Launch Network Surprise
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