BlackRock's BUIDL fund, has captured almost 30% of the $1.3 billion tokenised Treasury market in just six weeks.
The fund is backed by US Treasury bills, repo agreements and cash on the Ethereum network. After seeing $70 million inflows last week, BlackRock's fund became the largest with $375 million in AUM.
The increase was largely thanks to Ondo Finance who brought $50 million of inflows to BlackRock's token by leveraging it as reserve asset.
The Bitcoin and Ethereum ETFs started trading in Hong Kong, as the city pushes ahead with plans to become a virtual assets trading hub despite strict controls in mainland China.
The three asset managers — Bosera, Harvest Global Investment and ChinaAMC — each launched two Bitcoin ETFs and two Eth ETFs, making a total of six funds.
The Bitcoin ETFs each gained about 3% on their debut, while the Ethereum ETFs gained between 0.4% and 1% in early trading.
The restaking protocol announced the launch of its native token EIGEN on May 10th. The token will be released through the independent non-profit Eigen Foundation and have a total supply of 1.67 billion.
The protocol plans to allocate 15% of the token supply to those who staked using the platform. These tokens will be released gradually through multiple seasons. The first season will hand out 5% of total supply.
A whitepaper was also released today describing the structure of the EIGEN token and how it will fit within the EigenLayer ecosystem.
Allocation | Group |
45% | Community |
29.5% | Investors |
25.5% | Early Contributors |