The new milestone was reached shortly after the launch of BlackRock's first tokenized asset fund - BUIDL, which joined 16 other tokenized government securities funds last week.

BlackRock's product, tickered "BUIDL," was launched on Ethereum on March 20 and now boasts a market cap of $244.8 million. 

According to Etherscan, four transactions to the fund totaling $95 million over the week added a boost to the fund, making it the second largest tokenized government securities fund.