BlackRock's New $245 Million Ethereum Fund Draws Big Interest

• BlackRock launched an Ethereum-based fund called BUIDL that has drawn $245 million in a week • The fund invests in cash, US Treasuries, and repurchase agreements to maintain a value of $1 per token • $92 million came from Ordo Finance's tokenized US Treasuries • The fund ranks 2nd in market cap behind Franklin Templeton's bitcoin fund • BlackRock CEO Larry Fink sees potential for an Ethereum ETF, calling crypto assets "stepping stones towards tokenization"