BlackRock USD Institutional Digital Liquidity Fund
Tokenized institutional money market fund holding U.S. Treasury bills and repo.
Deployments
Supply scope: Excludes Optimism, BNB Chain — not yet collected
0x6a9Da2D710bb9b700aCDe7CB81F10F1ff8C89041
0x7712c34205737192402172409a8F7ccef8aA2AEc
GyWgeqpy5GueU2YbkE8xqUeVEokCMMCEeUrfbtMw6phr
0x53Fc82F14F009009b440a706e31C9021E1196A2f
0x2893ef551B6dD69F661ac00F11D93E5dc5DC0e99
0xa6525ae43edcD03dC08e775774dcaBD3bB925872
0xa1CdaB15bbA75a80dF4089cAfBa013E376957cF5
0x2D5bdc96d9C8aABBdB38c9a27398513E7E5Ef84f
BUIDL across four dimensions
Signal readings
- Disclosure tier
- regulated quarterly
- Attestations / 180d
- 0
- DEX liquidity
- $0.00
- Outstanding supply
- $13.94M
- Liquidity / supply
- 0.000%
- Top-10 holder pct
- 100.0%
BUIDL supply over time
Supply scope: Excludes Optimism, BNB Chain — not yet collected
BUIDL · BlackRock
Outstanding supply (USD)
BUIDL outstanding supply is $831.41M as of Jul 7, 2026. +0.3% over the prior 30 days. (Excludes Optimism, BNB Chain — not yet collected.)
BUIDL trust rating since coverage began
BUIDL · Verified Capital Trust Rating
Composite rating (0–100)
BUIDL rating is 56 as of Jul 7, 2026. -22 points over the prior 30 days.
What closes the gap — and who closes it
- ·BUIDL pays yield via monthly distribution events (new tokens minted), not price appreciation.
- ·There is no onchain rate to compare against the published one.
- ·Score component reflects this structural property.
What would close it
Yield in this instrument is paid by minting new tokens to holders each month rather than rising in price. A daily on-chain rate to measure against the issuer's published one therefore does not exist by design.
BUIDL redeems through Securitize authorized channels, not DEX trading. The Liquidity rubric does not apply cleanly to this instrument type.
What would close it
A liquidity rubric tailored to authorized-redemption funds — depth of authorized off-chain redemption channels rather than DEX depth.
- ·BlackRock / Securitize files SEC Form D / D/A under CIK 0002013810.
- ·Filing cadence is very low (2 filings since inception).
- ·No machine-readable per-token attestation feed exists.
What would close it
Issuer publishes a recurring BUIDL reserve attestation at a public URL with at least monthly cadence.
- ·contractOwner (item 25, Read as Proxy) returned a plain EOA — no Contract tab on Etherscan.
- ·Securitize DS Protocol transparent proxy.
- ·Single EOA controls upgrades.
Score impact: governance sub-signal: 4/10 (single EOA). upgrade_pattern transparent_proxy: 3/15. Total governance: 7/25.
- ·BlackRock USD Institutional Digital Liquidity Fund Ltd. files Form D / D/A only.
- ·2 filings since inception — very low cadence.
- ·Not worth a fetcher at current frequency.
Score impact: attestationFreshness: stub. Scores at regulatory baseline only. Revisit when fund files 10-K or N-CSR.
Top holder is the Securitize custodian address. Single-custodian concentration is structural for BUIDL's permissioned distribution model — not a measurement gap.
What would close it
A concentration rubric for permissioned distribution funds, which treats the issuer's custody address differently from third-party concentration.
No Etherscan label. Funded via OKX. 1 transaction total. Dormant wallet.
Score impact: Kept in.
- ·No Etherscan label.
- ·Active DeFi user — Morpho Bundler calls observed.
- ·Retail or institutional DeFi user, not protocol infrastructure.
Score impact: Kept in.
TransparentUpgradeableProxy (OpenZeppelin v5.1.0) source verified on Etherscan Contract tab. Protocol infrastructure contract holding 8.85% of BUIDL supply.
Score impact: Excluded from top-10 concentration calc. Post-exclusion top-10: ~73.93% → 5/25.
- ·No Etherscan label.
- ·Funded via Coinbase.
- ·25 transactions.
- ·$54.5M position.
- ·Pattern consistent with institutional wallet but not identifiable as protocol infrastructure.
- ·No Contract tab.
Score impact: Kept in. Below 90% exclusion threshold.
- ·No Etherscan label.
- ·Plain EOA.
- ·Outgoing transactions labeled "BlackRock: BUIDL Token" as counterparty — strongly suggests institutional position managed by BlackRock, but below 90% confidence without a direct label on this address.
Score impact: Kept in. If confirmed as BlackRock treasury/custody this would be excluded, improving the concentration score.
Resolved anomalies
Jul 3, 2026
→ Jul 3, 2026
Total trust score dropped 22pts (78 → 56, band: limited)
Jun 27, 2026
→ Jul 2, 2026
Net outflow of $26.5M (6.6% of outstanding supply)
Jun 11, 2026
→ Jun 11, 2026
Total trust score dropped 25pts (68 → 43, band: unverifiable)
Jun 9, 2026
→ Jun 9, 2026
Total trust score dropped 18pts (61 → 43, band: unverifiable)
May 30, 2026
→ May 30, 2026
Top-10 holder concentration rose 76.5pp (6.3% → 82.8%)
May 30, 2026
→ May 30, 2026
Total trust score dropped 23pts (63 → 40, band: elevated)
BUIDL is scored across the same four dimensions as every other rated instrument — Disclosure Quality, Redemption Liquidity, Structural Trust, and Holder Concentration. Each dimension contributes up to 25 points. The dimension breakdown above shows where the score comes from; the diligence trail shows every verified fact behind it.
Read the full methodology →