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Market cap
DIA price
Total supply
Holders
1.9B BUIDL
58holders
Measured on Ethereum. Shares are of the Ethereum supply, not the multi-chain total.
+$48.8Msince Fri, Aug 28 UTC
Change in the supply DIA reads across this coin’s chains, between two daily snapshots. Not mints minus redeems: DIA does not publish issuance flow.
Market data · CoinGecko
Market data · CoinGecko
Circulating supply · DeFiLlama
Aggregator figure, not a contract read. DIA’s own onchain supply is the separate series below.
Percentage change in BUIDL's circulating supply as reported by DeFiLlama, measured against that source's own past. It is not a change in the onchain supply above, which DIA reads from the contracts directly and which is a different measurement of the same coin. A dash means the map has no reading close enough to the start of the window, a stretch inside it where supply was not reported at all, or a starting figure too small for a percentage to describe. Hover a dash for which.
3 of the 7 chains DIA holds a verified BUIDL contract on carry a deployment date and are plotted here. The other 4 were verified without one and are left off the curve rather than dated to the day DIA read them.
DIA price
$1.0000
Peg deviation
—
Peg currency
USD
Launched
Primary use
—
Last snapshot
Fri, Sep 4 UTC
BUIDL is a share in a pooled investment fund, tokenized so the share register lives on chain. It is not a stablecoin in the sense the rest of this map uses the word.
Who does what
The issuer is BlackRock USD Institutional Digital Liquidity Fund Ltd., a limited company incorporated in the British Virgin Islands in 2023. BlackRock manages the portfolio. Securitize handles the tokenization and acts as transfer agent, and Securitize Markets, LLC (CRD 283256) is the placement agent named in the fund's SEC filing.
Size and holders
The fund's first sale was on 4 March 2024. Its most recent Form D amendment, signed by director Noelle L'Heureux on 23 July 2026, reports 5,135,523,412 dollars sold cumulatively to 28 investors, none of them non-accredited.
BUIDL is the reference case for tokenized treasury exposure: a regulated fund share that moves peer to peer like a token.
Sources: SEC EDGAR Form D/A, BlackRock USD Institutional Digital Liquidity Fund Ltd., filed 2026-07-27, BlackRock press release: launch of BUIDL on Ethereum, March 2024
The portfolio and its service providers
BlackRock's launch release states that the fund "invests 100% of its total assets in cash, U.S. Treasury bills, and repurchase agreements." Bank of New York Mellon serves as custodian of the fund's assets and as its administrator. Securitize acts as transfer agent and reports on subscriptions, redemptions, and distributions.
A fund audit, not a reserve attestation
The same release named PricewaterhouseCoopers LLP as the fund's auditor for the period ending 31 December 2024. A money market fund audit reports on the financial statements at a year end. It does not give the monthly reserve breakdown that fiat stablecoin issuers publish.
What is not published
No public reserve report was found for BUIDL in this research. There is no published page listing holdings by maturity, no counterparty list for the repurchase agreements, and no monthly third party attestation. The fund's own Form D declines to disclose its aggregate net asset value.
For a private fund sold only to accredited investors, that is a coherent position. For anyone holding BUIDL as onchain collateral, the holding-level detail sits with the fund's investors and not on the public record.
Sources: BlackRock press release: BUIDL invests 100% in cash, T-bills and repo; BNY Mellon custodian and administrator; PwC auditor, SEC EDGAR Form D/A: aggregate net asset value declined to disclose
BUIDL "seeks to offer a stable value of $1 per token" and pays daily accrued dividends as new tokens each month. The dollar value is held flat by minting. No arbitrage mechanism does it.
CoinGecko shows the token at 1.00 dollars with zero 24 hour volume across its listed venues. There is no secondary market price to compare against the fund's own valuation. A holder who wants dollars redeems with the fund through Securitize, or sells to another whitelisted holder.
Sources: BlackRock press release: stable value of $1 per token, daily accrued dividends paid monthly as new tokens, CoinGecko market page for BUIDL
The launch release named Anchorage Digital Bank NA, BitGo, Coinbase and Fireblocks as initial ecosystem participants.
On 14 November 2025 Securitize announced that BUIDL is accepted as off exchange collateral for trading on Binance, held with Ceffu as crypto native custody partner, and that the fund launched on BNB Chain. That release lists the fund as live on Arbitrum, Aptos, Avalanche, Ethereum, Optimism, Polygon and Solana.
Sources: Securitize press release, 14 Nov 2025: BUIDL accepted as Binance off-exchange collateral, launches on BNB Chain, BlackRock press release naming initial ecosystem participants
BUIDL is a security, and it is not a registered investment company. The Form D claims exclusions under Section 3(c) and 3(c)(7) of the Investment Company Act and states that the fund is not a 1940 Act fund. It is offered under Regulation D to accredited investors only.
The entry point
The filing lists a minimum investment accepted of 100,000 dollars. The March 2024 launch release put the initial minimum at 5 million dollars, so the entry point came down over the life of the offering.
Where it sits
The fund is incorporated in the British Virgin Islands with directors resident in Bermuda, the Cayman Islands and California. No banking or e-money licence applies, and no stablecoin regime such as MiCA or the US federal payment stablecoin framework governs it. The investor protection here is securities law plus fund governance.
Sources: SEC EDGAR Form D/A: BVI incorporation, 3(c)(7) exclusion, accredited investors only, 100,000 dollar minimum, BlackRock press release: initial investment minimum of 5 million dollars
Holder concentration
The sharpest number in the filing: 28 investors have subscribed cumulatively. A fund with that few holders can lose a large share of its assets to one redemption decision, and a protocol using BUIDL as collateral inherits that.
Transfer is permissioned
BUIDL moves only between wallets Securitize has whitelisted, so a liquidator cannot sell it to an arbitrary buyer on chain. Collateral that cannot be sold under stress is a different asset from collateral that can.
Redemption runs through the transfer agent
There is no onchain redemption contract that a smart contract can call, so exit depends on Securitize operating and on the fund settling.
Undisclosed repo counterparties
Repurchase agreements sit inside the 100 percent allocation alongside cash and bills. The repo counterparties are not disclosed publicly, so repo counterparty exposure cannot be assessed from outside the fund.
The 1 dollar value is a fund objective
The launch language is that the fund "seeks to offer" it. No guarantee is given.
Sources: SEC EDGAR Form D/A: 28 investors, accredited only, BlackRock press release: portfolio composition and stable value objective
The Global Stablecoin Map tracks BUIDL token supply on seven chains: Ethereum, Solana, Polygon, Avalanche, Aptos, Arbitrum and Optimism. Cross chain circulating supply currently sums to about 2.74 billion dollars, in line with the 2.759 billion dollar figure CoinGecko reported on the same day.
Two limits
The BNB Chain deployment announced in November 2025 is not yet in the tracked chain set, so supply there is not included in the total.
Onchain supply is a count of tokens issued. It is not a proof of the assets behind them. The portfolio sits with BNY Mellon off chain, and nothing read from a contract can confirm what is in it. Compare BUIDL against the other RWA-backed tokens in the stablecoin explorer.
Sources: CoinGecko market page for BUIDL, market cap and chain listings, Securitize press release, 14 Nov 2025: BNB Chain launch and chain list
No. BUIDL is a share in a pooled investment fund, tokenized so the share register lives on chain. It is a security offered under Regulation D to accredited investors, not a payment instrument.
BlackRock's launch release states the fund invests 100% of its total assets in cash, U.S. Treasury bills, and repurchase agreements. Bank of New York Mellon is custodian and administrator.
No monthly reserve attestation was found. PricewaterhouseCoopers LLP was named as the fund's auditor for the period ending 31 December 2024, which is a fund audit rather than a stablecoin reserve report.
Only investors whitelisted by Securitize. The fund's Form D reports accredited investors only, with a minimum investment accepted of 100,000 dollars and 28 investors subscribed cumulatively.
Securitize's November 2025 release lists Arbitrum, Aptos, Avalanche, Ethereum, Optimism, Polygon and Solana, with BNB Chain added at that time.
0xa6525ae4…bb925872Explorer ↗0x53fc82f1…e1196a2fExplorer ↗0x2d5bdc96…7e5ef84fExplorer ↗0x7712c342…f8aA2AEcExplorer ↗0xa1cdab15…76957cf5Explorer ↗0x2893ef55…c5dc0e99Explorer ↗GyWgeqpy5G…btMw6phrExplorer ↗Supply on this page is read from these contracts. Addresses are verified by DIA against the issuer’s own published documentation.
0xa6525ae4…bb925872pause(), unpause()eip1967-uups0x53fc82f1…e1196a2fpause(), unpause()eip1967-uups0x2d5bdc96…7e5ef84fpause(), unpause()eip1967-uups0x7712c342…f8aa2aec0xa1cdab15…76957cf5pause(), unpause()eip1967-uups0x2893ef55…c5dc0e99pause(), unpause()eip1967-uupsGyWgeqpy5G…btMw6phrfreezeAuthoritymintAuthorityRead from the deployed contract. “Not determined” means the contract’s full function set could not be enumerated, not that the capability is absent: a bytecode scan can confirm that a function exists and can never prove that one does not.