BlackRock has moved its tokenized U.S. Treasury product, the USD Institutional Digital Liquidity Fund (BUIDL), onto Uniswap through a collaboration with Securitize and Uniswap Labs, allowing eligible institutional participants to trade it onchain via UniswapX. Reports describe this as BlackRock’s first meaningful use of DeFi trading infrastructure for one of its tokenized funds, and they also say BlackRock bought an undisclosed amount of UNI, Uniswap’s governance token, as part of the arrangement. BUIDL is a tokenized money market-style fund backed by U.S. Treasuries and cash equivalents, designed to give qualified investors blockchain-based access to liquidity and yield while keeping access limited through whitelisting and other compliance controls. The move matters because it links one of the world’s largest asset managers with a major decentralized exchange, signaling a deeper institutional push into real-world asset tokenization and a new overlap between traditional finance and DeFi market infrastructure.

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