BlackRock-backed BUIDL Withdraws 11 Million USDC from Circle
CryptoNewsTerminal Staff07 Aug, 2024
BlackRock-backed BUIDL Withdraws 11 Million USDC from Circle
The BlackRock-backed Ethereum-based tokenized fund BUIDL has moved 11 million USDC out of Circle, according to data from the on-chain analytics firm Arkham. The withdrawal comes as part of a larger trend of institutions allocating funds to digital asset markets. BlackRock is the world's largest asset manager, with over $10 trillion in assets under management. The firm has been an early investor in cryptocurrencies, and its involvement in BUIDL is seen as a sign of growing institutional adoption of digital assets.
