BlackRock's ₱115.78 billion ($2 billion) BUIDL Fund Now Trades on UniswapX via Allowlist

BlackRock's BUIDL tokenized Treasury fund became tradable through UniswapX on February 11, marking a shift from passive holding to active on-chain trading. The fund holds over ₱115.78 billion ($2 billion) in assets. Securitize manages an allowlist that decides who can trade BUIDL tokens through UniswapX's request-for-quote system, with BUIDL holders able to swap into USDC only after clearing the whitelist hurdle.

VanEck's VBILL tokenized Treasury product now serves as approved collateral in Aave Horizon, which launched in August 2025 as a permissioned lending market. The structure segregates borrowers and collateral issuers from the supply side, letting institutions keep familiar controls while using DeFi infrastructure. Circle's USYC and products from Superstate and Centrifuge also qualify as Aave Horizon collateral.

UBS Asset Management took a different approach in early February. Its uMINT tokenized money market fund started serving as collateral for Secured Finance, accessible through DigiFT's distribution layer. The setup replaces traditional repo desks and legal agreements with on-chain settlement through smart contracts, creating a non-custodial environment for traditional secured funding mechanics.

Bitwise announced two moves in February: a partnership with Morpho to launch curated yield vaults that filter protocol risk, and the acquisition of Chorus One's institutional staking business. WisdomTree expanded its tokenized fund suite onto Solana on January 28. Maple Finance CEO Sid Powell outlined the strategic rationale for permissioned DeFi structures that give institutions atomic settlement and composability without anonymous counterparties, converting Treasuries and money market funds into productive on-chain collateral with access gates and compliance layers that mirror traditional finance.