Money pours into the tokenized asset fund called Build introduced by BlackRock, one of the largest asset managers in the world.
According to Bloomberg, the fund raised $160 million in its first week.
Build was introduced as a tokenized money market fund that invests in U.S. Treasury bonds, repurchase agreements, and cash. BlackRock included the fund it created with Securitize.
After this move was announced by BlackRock, Ondo Finance (ONDO) and TokenFi (TOKEN) saw significant increases in real-world asset (RWA) based projects.
Following the announcement of the fund, Ondo Finance announced that $95 million worth of tokens were moved to the BUILD fund. This step and the transfer of investors resulted in rapid growth for BlackRock’s fund.
