#Will ETH see a strong rebound in May?

Bitcoin ETF Issuer BlackRock's Fund, Launched in March, Has Grown to a Huge Figure
Bitcoin ETF issuer BlackRock launched a new fund in March.
The launched fund has grown to $375 million in assets.
BlackRock had teamed up with Securitize for this funding.
BlackRock's BUIDL fund has made an impressive rise in the crypto asset market, surpassing the $375 million threshold in assets under management. Franklin Templeton's BUIDL fund, which achieved this feat by surpassing its on-chain investment fund FOBXX, continues to challenge its competitors in the industry. Let's look at the details of the development.
BUIDL Fund Achieves a Significant Success
According to data from Dune Analytics, the BUIDL fund achieved this huge feat, beating its closest competitor, Franklin Templeton's FOBXX fund, by a margin of about $8 million. FOBXX is a U.S.-registered investment fund that uses the Polygon and Stellar blockchains. As of April 30, the fund had over $368 million in assets under management
This rapid rise of the BUIDL fund shows that there is a serious demand in the market. According to the fund's website, "The Fund invests at least 99.5% of its total assets in U.S. government securities, cash, and repo transactions that are fully collateralized by U.S. government securities or cash." This approach aims to achieve a high level of current income along with capital and liquidity protection of shareholders. The fund also focuses on maintaining a stable share price of $1.
BlackRock launched BUIDL in March in collaboration with real-world assets tokenization firm Securitize. The BUIDL fund, which managed to attract attention by providing an inflow of 160 million dollars in the first week of the launch, reinforced its leadership in the sector in this process.

As one of the world's largest asset managers, BlackRock is increasingly influential in the financial world. The company, which made a big impact in the sector with its spot Bitcoin ETF IBIT, which collected $10 billion in assets under management in early March, continues to maintain this success with its BUIDL fund. As of April 29, IBIT had raised about $766 million in funding.
The success of BlackRock's BUIDL fund demonstrates the growing interest of institutional investors in the crypto asset market. This fund once again proves the impact of developments and innovations in the sector on investors and is a promising signal for the future. Let's see how these developments will reflect on the cryptocurrency market in the coming days.
#ContentStar #Gate post Highlights
#HotTopicDiscussion #BountyCreator
#GateLive #NewsMessenger