🔹 BlackRock's BUIDL short-term money market fund (issued on Ethereum blockchain) market cap surged 36.1% last month.
🔹 BUIDL details: On-chain money market fund offering short-duration fixed income exposure. Delivers institutional-grade Treasury/cash-like yields directly to Ethereum wallet holders.
🔹 Growth catalyst: Crypto market recovery + institutional demand for stablecoin alternatives + FIT (Fund in Trust) regulatory approval framework enabling mega-institution token launches.
🔹 Competition heats up: iShares Bitcoin ETF success proved retail + institution appetite for crypto-native assets. BlackRock expanding playbook: stocks → crypto → tokens → on-chain finance.
🔹 Implication: When $10T+ asset manager (BlackRock) is growing on-chain products 36% monthly, Ethereum becoming settlement layer for traditional finance is NOT speculation = reality.