BlackRock’s BUIDL Overtakes Circle’s USYC in Tokenized U.S. Treasury Funds

BlackRock's BUIDL has taken over as the second-largest tokenized U.S. Treasury fund, surpassing Circle's USYC in a market worth $15.1 billion.

BUILD now holds approximately 18.5% of the market share with around $2.8 billion, narrowly edging out USYC which had reached $2.9 billion by late August.

This competition comes as BlackRock recently launched its tokenized money market funds, BSTBL on Ethereum and BRSRV on Solana, designed to serve as reserve assets for stablecoins, which now represent around $305 billion in on-chain liquidity.