BlackRock’s Ethereum-based BUIDL fund has attracted more than $5 million in assets despite the ongoing market turbulence, according to market analytics resource IntoTheBlock. The BlackRock USD Institutional Digital Liquidity Fund (BUIDL) was launched in March on Ethereum and is the asset manager’s first tokenized fund. It allows qualified investors to earn yields in US dollars by subscribing through fintech company Securitize. The BUIDL fund invests in US Treasury bills, cash, and repurchase agreements, allowing investors to generate yield while holding their assets as tokens on the blockchain. Despite the market turmoil, BUIDL has maintained a positive trajectory and currently has $491 million in assets under management (AUM). This makes it the largest blockchain-based money market fund, surpassing Franklin Templeton’s BENJI fund. BUIDL has recorded inflows of $116.83 million, while BENJI has only seen $33.97 million in capital inflows.