BlackRock, the world’s largest asset manager, is taking its first step into the decentralized finance (DeFi) sector by announcing the launch of trading for its tokenized money market fund BUIDL on the decentralized exchange Uniswap. The BUIDL fund, backed by U.S. Treasury securities, will be available to a limited number of institutional investors.
This is reported by Finway
Strategic Entry into DeFi and Acquisition of UNI
Alongside the listing of BUIDL on Uniswap, BlackRock also announced the purchase of an unspecified amount of Uniswap (UNI) tokens, which reflected in the token’s price increase: following the news, the price of UNI reached $4.29, although it is currently trading at $3.33. The total market capitalization of UNI exceeds $2 billion.
This initiative is being implemented in partnership with Securitize, a company specializing in asset tokenization. This move is one of the most prominent examples of the integration of traditional finance and the crypto market, where classic financial instruments are gradually entering the decentralized trading space, where the main mechanisms are smart contracts, liquidity pools, and automated market makers, rather than centralized intermediaries.
Currently, approximately $100 billion in capital is accumulated on DeFi platforms, highlighting the scale and potential of this market for global players.
Access to BUIDL and Development Prospects
Despite the significant buzz, the practical impact of the launch will be limited at the initial stage: Securitize is forming a special “whitelist” of institutional participants who will have the right to trade BUIDL in the DeFi environment. This list includes individual market makers, including Wintermute. Access is granted exclusively to so-called qualified purchasers — investors with assets of at least $5 million.
Thus, at the outset, trading BUIDL will be possible for a limited number of large players. However, experts view this project as a testing platform for further expanding access to tokenized traditional assets in the DeFi space.
“Large asset management companies want to learn to walk before they run, starting with qualified purchasers. But the infrastructure we are announcing will also work with retail products.” — CEO of Securitize Carlos Domingo
The collaboration between BlackRock and Uniswap holds symbolic significance: BlackRock embodies traditional finance, while Uniswap is one of the leading innovative DeFi platforms, known for the activity of high-risk traders.
Uniswap founder Hayden Adams notes that reaching the agreement followed a year and a half of negotiations in New York. He believes that BlackRock’s entry is a confirmation of the gradual transition of asset trading to blockchain.
Global Head of Digital Assets at BlackRock Robert Michnik commented on the integration of BUIDL into the UniswapX ecosystem:
“The integration of BUIDL into UniswapX represents significant progress in the interaction of tokenized funds with dollar-denominated income and stablecoins.”
The launch of BUIDL on Uniswap occurs amid important changes within the Uniswap ecosystem itself: in December 2025, the community supported the UNIfication initiative regarding the redistribution of fees and the implementation of a deflationary mechanism, and in February 2026, Uniswap Labs won a lawsuit against Bancor regarding technological rights.
As of February 2026, the market value of the BUIDL token, which was launched in 2024, is approximately $1.8 billion. Its listing on Uniswap is seen as a vote of confidence in the DeFi sector from one of the most powerful players in the financial market.
Data on Uniswap (UNI). Source: CoinMarketCap.