BlackRock’s BUIDL Holds $157.37M on Aptos Blockchain

$157.37 million of BlackRock’s BUIDL fund was held on Aptos, accounting for roughly 82% of the network’s $191.11 million in distributed asset value, according to RWA.xyz’s Nov. 11 figures.

That concentration is the core fact. BUIDL, formally the BlackRock USD Institutional Digital Liquidity Fund, outweighs the other disclosed institutional products on Aptos by a wide margin. Most of the network’s reported tokenized-asset value therefore sits with one fund rather than a diversified field of issuers.

The value on Aptos

The RWA.xyz snapshot shows:

• BlackRock’s BUIDL fund: $157.37 million.
• Franklin Templeton’s BENJI: $14.78 million.
• Apollo’s tokenized credit fund: $12.92 million.
• Total distributed asset value on Aptos: $191.11 million.

The two named competitors total $27.70 million, less than one-fifth of BUIDL’s position. That makes the concentration more striking than a ranking among similarly sized products. The measurement remains straightforward: it tracks the value of tokenized products distributed on Aptos.

How the fund reached Aptos

CoinDesk reported that BlackRock issued BUIDL with tokenization platform Securitize. The fund launched on Ethereum in March 2024. It expanded in November 2024 to Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet and Polygon.

That rollout gave the same product a multichain route. Its Aptos position now stands apart from the smaller disclosed allocations from Franklin Templeton and Apollo. The figure is a snapshot of asset distribution, not a measure of which products have the broadest consumer reach.

Why BUIDL’s structure matters

The BUIDL token is backed by short-term U.S. government bonds, and its price is anchored to $1, CoinDesk said. Those features make the fund a reserve-backed token with a fixed-value design, rather than an asset whose reported price rises or falls with broader crypto demand.

At a $1 anchor, a holder’s dollar value is tied to the value of the short-term government bonds behind the token. That helps explain why BUIDL can represent such a large share of a network’s tokenized-asset value. The holdings figure still measures asset distribution, not Aptos trading volume, user growth or broader decentralized-finance activity.

The source does not provide redemption terms, trading conditions or a breakdown of the government bonds. Those details would matter for a full assessment of the fund’s liquidity and portfolio construction, but they do not alter the reported concentration on Aptos.

What does this change for Aptos?

For an institution assessing Aptos’s tokenized-asset infrastructure, the answer is both positive and constrained. Aptos hosts $191.11 million in reported distributed value, including a $157.37 million position from BlackRock. Yet issuer concentration remains pronounced: BUIDL accounts for roughly 82%, while BENJI and Apollo’s credit fund each remain below $15 million.

That mix gives Aptos a meaningful institutional-asset foothold. The practical effect is that changes in BUIDL’s allocation will matter disproportionately to the network’s headline tokenized-asset total. The same growth in BENJI, Apollo or another issuer would initially move that total by much less.

Concentration cuts both ways. It ties most of Aptos’s reported tokenized-asset value to one recognizable product, which may help institutions understand the chain’s role. It also leaves the headline number sensitive to allocation decisions at a single fund rather than a broad flow of capital into many products.

The figures do not show whether the assets are actively traded, lent or used as collateral. Nor do they establish the depth of Aptos’s secondary market or the pace of user adoption. They show where value is distributed, which makes concentration the clearest operational fact for anyone weighing the network’s institutional adoption.

The next market-structure checkpoint is whether competing products can take a larger share as tokenization spreads across chains. Until then, Aptos’s institutional-tokenization story remains anchored to BlackRock’s BUIDL and its $157.37 million position.