Injective launched a first-of-its-kind tokenized index, offering access to BlackRock’s BUIDL Fund, which provides institutional exposure to U.S. Treasury and other assets on the blockchain.
This index is the first perpetual market of its kind, according to a statement from Injective. It will enable consumers to access the BUIDL Fund in a manner that was previously unavailable.
BlackRock’s inaugural tokenized offering on a public blockchain is the BUIDL Fund, which is also referred to as the BlackRock USD Institutional Digital Liquidity Fund. It offers institutional investors exposure to U.S. Treasury and other assets.
The BUIDL fund permits investors to generate yield while maintaining their holdings as tokens on the blockchain by allocating investments into U.S. Treasury bills, currency, and repurchase agreements.
The fund has maintained a positive trajectory despite the ongoing market turmoil, despite a correlation with the crypto industry. The fund is the largest tokenized fund to date, with over $500 million in assets under management, according to Injective.
The BUIDL Fund previously necessitated a minimum investment of $5 million. Users can now acquire the fund with as little as $1 following the launch of the BUIDL Index.
Making Tokenized Assets more Accessible
The BUIDL Index will be exclusively accessible on the Injective blockchain through a variety of decentralized applications. It will allow traders to monitor the fund’s supply rather than just its price and access tokenized assets with leverage.
Based on market trends, traders have the option to establish long or short positions. Prices are adjusted hourly to mitigate volatility and are linked to the fund’s mark price. The fund’s mark price, which varies intraday in response to supply fluctuations and allows users to execute these positions, determines the market.
Stork, a decentralized price data provider, contributed to the collaboration and was involved in the recent Altaris Mainnet upgrade by Injective.
