BUIDL Reclaims Title as Largest Tokenized US Treasury Fund

Securitize's BUIDL has reclaimed its title as the largest tokenized US Treasury fund, surpassing Circle's USYC and other competitors. The fund, which launched on March 20, 2024, held a commanding position in the market for much of its life, but briefly ceded that status to USYC in March 2026.

However, continued inflows pushed BUIDL back to the front of the pack by mid-2026, and it has now reached roughly $2.8 billion in assets under management, a significant slice of the estimated $15 billion to $16 billion tokenized US Treasury market.

BUIDL holds short-term US Treasuries, cash, and repurchase agreements, targeting a net asset value of $1.00 per token. Investors earn yields ranging from 3.4% to 4.5% APY, which accrue daily and are paid out monthly in additional tokens through a rebasing model.

The fund operates across multiple blockchains, including Ethereum, Solana, Aptos, and BNB Chain, with onboarding requiring traditional compliance checks like KYC and AML verification handled by Securitize's infrastructure. Platforms like Deribit and Crypto.com now accept BUIDL tokens as collateral for trading positions.