New data shared by Sentora highlights the on-chain distribution of BlackRock’s BUIDL fund, showing that the majority of assets remain on Ethereum, though other chains are gaining meaningful share.
According to the breakdown, Ethereum accounts for approximately $694 million of BUIDL’s total on-chain distribution, making it the dominant settlement layer for the tokenized fund.
This reinforces Ethereum’s position as the primary infrastructure network for institutional-grade tokenization.
Both networks now hold more than half a billion dollars in BUIDL allocations, signaling that institutional tokenization is no longer concentrated solely on Ethereum.
Additional allocations include:
While smaller in comparison, these figures show growing multi-chain diversification for one of the largest tokenized fund products in the market.
The distribution reflects a clear trend: institutional tokenization is expanding beyond a single-chain model.
Ethereum remains the dominant base layer for BUIDL, but Solana and BNB Chain have established themselves as serious alternatives, each capturing substantial share.
As tokenized assets continue to scale, the competition between chains for institutional liquidity appears to be intensifying rather than consolidating.
