BlackRock's BUIDL fund seeks a $34M allocation from Ethena’s $235M USDT collateral and $45M reserve for tokenized real-world asset investments.
Ethena is planning to invest a portion of its $235 million USDT collateral and $45 million surplus reserve into yield-generating tokenized real-world assets (RWA). BlackRock’s BUIDL fund has submitted a bid for a $34 million allocation, joining other applicants in this investment opportunity.
Key Points:
Investment Plans: Ethena aims to allocate a part of its $235 million USDT collateral and $45 million surplus reserve into RWAs to generate yield.
BlackRock's Proposal: BlackRock’s BUIDL fund seeks a $34 million allocation from Ethena’s Reserve Fund, represented by an Ethereum-based token.
Other Applicants: Steakhouse Financial and Mountain Protocol have also shown interest, with Steakhouse proposing a lending vault on Morpho Blue and Mountain Protocol planning a future proposal.
Governance and Transparency: All proposals will be publicly posted on Ethena's governance forum, ensuring transparency and community involvement.
Industry Trend: This move highlights the growing trend of integrating tokenized RWAs in the decentralized finance (DeFi) space, following similar actions by MakerDAO and ArbitrumDAO.
Ethena’s initiative to invest in tokenized real-world assets has attracted notable applicants, including BlackRock’s BUIDL fund. This strategy underscores the increasing adoption of RWAs within the DeFi sector, aiming to enhance yield generation and investment diversification.
Source: Coindesk
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