BUIDL rushed to 2.8 billion, and BlackRock turned tokenised U.S. bonds into a mainstream cash instrument BlackRock's BUIDL fund has skyrocketed by nearly $1 billion in three months, eating almost half of the growth of the entire tokenised U.S. bond market, and now the total size has reached $2.89 billion, which is not only the world's largest tokenised money fund, but also the face of the entire RAWA market, accounting for 40% of the $7.3 billion market alone. Ethena Labs no longer uses BUIDL as a source of asset support for USDtb, because USDtb is the main locomotive to promote the growth of BUIDL this year, accounting for ninety percent of the past capital inflows. Without Ethena's support, BUIDL can grow by 35% in three months, and the market demand for the on-chain version of "regulated, high-interest dollar assets" has increased rather than decreased. RWA is no longer a "conceptual issue", and the tokenization of U.S. bonds is entering the market in large quantities From March to June, not only BUIDL grew, but the entire RAWA market increased by nearly $5 billion, almost half of which was the tokenization of US Treasury bonds, and it took a year for BUIDL to break through $1 billion in March last year, but this time it took less than 90 days to go from $1 billion to $3 billion. In addition to the rise, it can also renew the distribution, reaching a new high for three consecutive months, BUIDL's monthly distribution has hit a new high for three consecutive months, from $4.17 million in March, all the way to more than $10 million in May, and the total dividend distribution has exceeded $43 million.