BlackRock's BUIDL fund has surpassed $1 billion in assets under management (AUM), marking a 56% increase within a month. This milestone makes BUIDL the first tokenized money market fund to reach this level, primarily investing in U.S. Treasury debt and bank deposits. The growth comes despite broader market downturns, highlighting a trend of increasing institutional adoption of tokenized real-world assets (RWAs). The fund's success has been recognized by industry leaders, with comments emphasizing its role in establishing a new standard for investment in tokenized assets. Overall, the market for tokenized treasury products has seen a substantial rise, with total deposits reaching a new high of $4.4 billion, reflecting a year-over-year growth of 490%.