BlackRock’s BUIDL Takes a Wild Ride on Solana – Is Ethereum Shaking in Its Boots?

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  • In a move that can only be described as “let’s throw some money at the speed of light,” BlackRock has decided to expand its blockchain-based BUIDL fund to Solana, presumably to save a few bucks on transaction fees and to make their accountants smile.
  • Solana, that sprightly little blockchain, is outpacing Ethereum in key metrics, and analysts are predicting it will continue to do so until at least 2025, or until the universe decides to implode.

Ah, BlackRock! The financial behemoth that makes Godzilla look like a house cat, is now flexing its muscles in the crypto sector by expanding its blockchain-based money market fund to Solana [SOL]. Yes, you heard that right! They’re diving into the digital deep end, and it’s about as subtle as a hippo in a tutu.

BlackRock’s BUIDL Expansion

In a partnership that sounds like it was concocted in a high-tech laboratory, BlackRock has teamed up with its tech buddy Securitize to launch a new share class of the BlackRock USD Institutional Digital Fund (BUIDL) on the Solana network. Because why not? It’s not like they have anything better to do.

This grand gesture comes a whole year after the fund’s initial launch, which is practically a lifetime in crypto years, and it highlights BlackRock’s relentless quest to conquer the tokenized finance universe, one blockchain at a time.

By hitching BUIDL to Solana’s rocket ship, investors can now enjoy the thrill of low transaction costs and instant settlements. It’s like getting a fast pass at an amusement park, but with fewer screaming children.

Execs Weigh In

In a moment of profound insight, Carlos Domingo, Co-founder and CEO of Securitize, remarked,

“As the market for RWAs and tokenized treasuries gains momentum, expanding BUIDL to Solana—a blockchain known for its speed, scalability, and cost efficiency—is a natural next step.”

Meanwhile, Lily Liu, President of the Solana Foundation, chimed in with her own brand of wisdom, stating,

“Solana is uniquely positioned to drive the next wave of adoption for tokenized real-world assets due to the network’s speed, low costs, and active developer ecosystem. BlackRock’s expansion of BUIDL on Solana offers users a network that balances innovation with the operational efficiency the industry demands.”

Is Ethereum Losing Ground Against Solana?

As if the universe were playing a cosmic game of chess, BlackRock’s expansion of its BUIDL fund to Solana coincides with a significant increase in its Ethereum [ETH] holdings, which have skyrocketed to a staggering $1.145 billion. Yes, billion with a “B,” because why not?

In a recent tête-à-tête with Frank Chaparro, Kyle Samani, co-founder and managing partner of Multicoin Capital, reinforced his bullish outlook on SOL. Meanwhile, he also raised some eyebrow-raising concerns about ETH’s roll-up-centric scaling approach, questioning its long-term viability. Because who doesn’t love a good debate over digital currencies?

His comments reflect the ongoing tug-of-war between Solana and Ethereum, with industry leaders placing bets on who will outpace the other. Spoiler alert: it’s like watching two tortoises race, but with more drama.

Solana vs. Ethereum

That being said, Solana’s dominance over Ethereum is as clear as a cat in a dark room—if you squint really hard. Key metrics such as DEX trading volume, user activity, and transaction fees all point to Solana being the cool kid on the blockchain block.

While its fee advantage briefly narrowed in February, Solana has maintained a multi-million-dollar lead since early January, which is about as surprising as finding a cat in a box.

Analysts at Delphi Digital predict that this trend could extend into 2025, positioning SOL as the top Layer 1 blockchain. Because who doesn’t want to be number one?

On the price front, SOL continues to outperform, recently rising 3.83% to $144.51, while ETH saw a modest 0.87% increase to $2,069.30. It’s like watching a tortoise and a hare, but the tortoise is wearing rocket boots.

Therefore, with strong momentum and sustained growth, Solana’s competitive edge over Ethereum appears poised to strengthen further. And if the universe has any say in it, we might just see a digital revolution unfold before our very eyes. Or not. Who knows?

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2025-03-26 19:08