Bitcoin

Ethereum

Ethena

<h2 id="header-0">ChikaMoji Memecoin Launched Airdrop: Claim Instant 100,000 CHIKA Tokens Worth $100 USDT, Claim Airdrop At<a href="https://www.chikamoji.lol/" rel="noopener noreferrer nofollow"> WWW.ChikaMoji.LOL</a></h2>Ethena, the issuer of the USDe stablecoin, plans to invest some of its reserves into tokenized US Treasuries. In a governance update on July 16, Ethena revealed its intention to allocate $235 million in USDT stablecoin and $45 million from its Reserve Fund to real-world asset (RWA) products.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/319fb65d6d1849caa222a0134eeff5cb.png" />This strategy is part of a growing trend among DeFi protocols that invest in stable and easily accessible tokenized RWAs. Several funds are already seeking a share of this allocation.<h3 id="ethena-reserve-fund-allocation-sparks-interest-from-major-funds">Ethena Reserve Fund Allocation Sparks Interest from Major Funds</h3>Following Ethena’s governance post on July 16, which announced plans to invest $235 million in USDT stablecoin and $45 million from its Reserve Fund into real-world assets (RWAs), several funds have applied for a share of the allocation. Among the applicants are <a href="https://cryptosheadlines.com/coinbase-supports-blackrocks-tokenized-fund/" rel="noopener noreferrer nofollow">BlackRock and the tokenized fund</a> BUIDL, which has requested $34 million from the Reserve Fund.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/72c63268ca6e4e9d82263d13fbcd9163.webp" />BlackRock BUIDL’s Supply (Source: Dune Analytics)BUIDL, an Ethereum-based money market fund, offers an annual percentage yield (APY) of approximately 4.88% with a 0.50% annual fee. Despite being launched less than five months ago, BUIDL has quickly become a leading RWA project, managing over $500 million in assets and controlling over 28% of the market.However, BUIDL faces competition from other funds, including Steakhouse Financial, which has applied for an allocation to its Steakhouse USDC on Morpho Blue, and is overcollateralized with products like wrapped BTC and tokenized Treasury Bills. Additionally, Mountain Protocol, known for its yield-bearing stablecoin USDM, plans to submit its proposal soon, though details about its application are not yet available.<a href="https://cryptosheadlines.com/polygons-bullish-breakout-potential/" rel="noopener noreferrer nofollow">Also Read: Polygon’s Bullish Breakout Potential</a><h3 id="defi-protocols-shift-toward-tokenized-real-world-assets">DeFi Protocols Shift Toward Tokenized Real-World Assets</h3>Ethena’s decision to <a href="https://cryptosheadlines.com/avalanche-foundation-invests-50m-in-tokenized-assets/" rel="noopener noreferrer nofollow">invest in tokenized real-world assets</a> (RWAs) is part of a growing trend among DeFi protocols. Following this move, MakerDAO announced a bid to invest $1 billion DAI into tokenized treasury products, while Arbitrum DAO previously invested around 35 million ARB into RWAs. This shift has significantly <a href="https://cryptosheadlines.com/artibirums-promising-initiatives-boost-market-optimism/" rel="noopener noreferrer nofollow">boosted the tokenized treasuries market</a>, which recently surpassed $1.8 billion in assets under management (AUM), a dramatic increase from $100 million at the beginning of 2023.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/944fa1def57a4bf28e2c25446f7ab945.webp" />Top 5 Tokenization Projects (Source: Dune Analytics)Ethereum remains the dominant platform in this space, holding a 72.5% market share, while Stellar Network captures 21.7%. This asset class is drawing interest from both crypto-native and traditional financial institutions, as it serves as a bridge between DeFi and traditional finance (TradFi). Observers, including crypto podcaster Marty Party, view tokenized RWAs on networks like Solana and Ethereum as the next major trend in the crypto industry.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

BlackRock’s BUIDL Targets 75% of Ethena’s $45M Reserve for RWA Investment

Table of Contents

cmcdelete@edb8d1ee4ec9a85c04690131b307c085

Other articles published on Jul 24, 2024

The Potential Impact of a 30% Tax on Bitcoin Mining in the US.

Diamond-Handed ETH Trader Sells Holdings After Enduring Bear Market

Banana NFT Just Landed on Telegram: Play the Game, Mint NFTs, Earn 10,000 TON

Anthony Scaramucci Predicts Kamala Harris To Fire US SEC Chair Gary Gensler

Ethereum ETF Day 1 beats ‘20% of BTC’ estimate – What’s next?

€500,000 Bitcoin Investment Qualifies for Portuguese Golden Visa Program via Unbound Fund

Join our free newsletter for daily crypto updates!