In a strategic move, leading crypto investment firm BlackRock has launched its USD Institutional Digital Liquidity Fund (BUIDL) to the Solana network. This expansion connects traditional finance with blockchain, making tokenized money market funds more accessible. It marks a major milestone in the growth of real-world assets (RWA) on blockchain networks. The move comes one year after BlackRock and Securitize teamed up to launch BUIDL, a blockchain-based money market fund. Why BlackRock Chose Solana Earlier today, Securitize confirmed in a press release that a new share class has been rolled out on Solana. This will give investors the ability to use BUIDL across the network’s ecosystem. Securitize CEO Carlos Domingo pointed to Solana’s fast transactions, scalability, and low fees as key reasons for its growth. He said Blackrock’s BUIDL expansion to the network makes sense because it handles tokenized assets efficiently. Solana Foundation President Lily Liu agreed with this sentiment. He emphasized that Solana’s strong performance and growing adoption among developers make it a great fit for tokenized funds like BUIDL. Meanwhile, competition in the tokenized treasuries market is rising as big financial firms race to bring real-world assets onto blockchain networks. BUIDL, which manages $1.7 billion in assets, is now up against Fidelity’s Treasury Digital Fund, which is considering launching a share class on Ethereum. More Institutional Interest In Solana The race to dominate tokenized treasuries is heating up, and Solana is positioning itself as a major player. This comes as more institutions and digital firms, including Taurus, are expanding their crypto offerings to the Solana network. Meanwhile, BUIDL’s expansion is not the only sign of growing institutional confidence in Solana. Prediction market platform Polymarket recently announced that users can now deposit SOL on the platform, adding another utility to the blockchain. Previously, Polymarket only accepted Circle’s USDC stablecoin for funding accounts. Solana’s Rise Reignites Talk of Overtaking Ethereum Following the BUIDL announcement, Solana’s price surged, currently trading at $144. This upward price action has fueled speculation that Solana could one day challenge Ethereum’s (ETH) dominance in the market. However, Solana’s daily trading volume dropped to $3.35 billion after the initial excitement from Polymarket’s integration faded. Although SOL’s price movement remains strong, it is still too early to tell whether its price can surpass Ethereum. Also, several Solana-based Exchange Traded Funds (ETFs) are getting ready to launch, showing growing interest from big investors in the blockchain. With BlackRock’s BUIDL live, Solana continues strengthening its position as a leading blockchain for tokenized finance. The post BlackRock Expands Tokenized Fund BUIDL to Solana Network appeared first on TheCoinrise.com .
